An annuity is an insurance contract that guarantees income in retirement.
As people near the point of retirement, it’s only natural for them to think about where income beyond Social Security or employer-sponsored retirement plans is going to come from. One of the options is an annuity.
An annuity is an insurance contract that guarantees income in retirement. It can guarantee income for a set period of time (such as 25 years) or for the rest of your life. You put money into it once or make a series of payments. In return, you receive income in retirement.
There are several types of annuities to choose from.
They have different intended uses and fee structures. The type you choose and the details of your contract will determine when and how you receive payouts. Annuities are intended to be a long-term investment.
To match the most appropriate annuity with your goals and risk tolerance, please schedule a consultation, so that we can review whether you need income now or later, how long you want to receive income – a specific period of time or for the rest of your life – and your risk tolerance.
Once this review is complete, Fiscal Dynamics can go to the annuity marketplace to identify the best product fit for what you want to accomplish – with no financial incentive to promote one carrier over another.