Annuities
Protect and Grow Your Retirement Income.
Annuities are long-term financial tools that can support retirement planning. Depending on the type, annuities may be used to accumulate savings, protect principal, or provide income for a set period or for a lifetime.
What are annuities?
An annuity is a contract between you and an insurance company, designed either to help you build retirement savings over time or to convert existing savings into a stream of income. You can fund it with a lump sum or periodic payments, and in return the contract may provide value accumulation or a stream of income, depending on the type of annuity.
There are several types of annuities, each with unique features:
Fixed Annuities
Provide a stated interest rate and principal protection.
Indexed Annuities
May credit interest linked to the performance of a market index (like the S&P 500), with limits and protections defined by the contract.
Immediate Annuities
Convert a lump sum into income payments that begin shortly after purchase, typically for a set period or for life.
Annuities can be used to complement other retirement income sources such as Social Security or pensions.
Why it matters
Annuities can provide peace of mind when planning for retirement, especially if you’re concerned about outliving your savings or seeking predictable ways to manage income. Depending on the type of annuity, they may be used to:
● Provide income that lasts for life or for a set period
● Protect principal from market fluctuations
● Accumulate retirement savings on a tax-deferred basis
● Support long-term care planning or leave a legacy for beneficiaries
Who is it for
- Approaching or in retirement and want steady income
- Looking to protect retirement savings from market volatility
- Interested in tax-deferred growth
- Seeking a way to manage longevity risk (the risk of outliving your money)
- Exploring options for guaranteed income beyond Social Security or pensions
We work with individuals, couples, and small business owners to help determine whether annuities align with their retirement goals and risk tolerance.