Let’s Talk Annuities
The ultimate do it yourself retirement plan is an annuity. Annuities are usually bought from a life insurance company, but unlike life insurance which pays when you die, an annuity makes regular payments as long as you, and/or your beneficiary are alive. There is a lot to know and consider when it comes to annuities. If you’re interested in reliable annuity advisors in New York, then you’re in luck. Our qualified team of annuity advisors will answer any questions you have, and help you weigh your options.
There are many benefits to having an annuity plan. Here are a few:
- Tax-free compounding while your money is in an annuity
- No annual contribution limit
- When you cash out, you can either take a lump-sum payment, or set up payments for a set time — or for the rest of you life — which provides a steady, guaranteed income.
Do You Need An Annuity?
Annuities can be complex, and you might have a hard time deciding whether an annuity is the best option for you. If that applies to you, then rest assured that as our client, you have some of the best annuity advisors in New York at your side.
Consider an annuity when you have:
- Contributed all you can to all your tax-sheltered retirement plans, and still have money you’d like to put aside for retirement.
- Come into a large sum of money which you’d like to put aside for retirement. It could be a pension payment from your employer, or the proceeds from the sale of your home. Wherever the money came from, an annuity is the place to put it.
- Roll-over your 401 or 401B into an annuity if you are laid off or terminated from your job.
If purchasing an annuity sounds like something that suits you, then trust our annuity advisors to help you decide which type of annuity works best for you.
Fixed Annuity: Your premiums earn a fixed rate of return, which the company can change at fixed intervals (usually once a year).
Deferred Annuity: You pay a single premium or a series of payments, and you start getting repaid at some point in the future.
Index Annuity: Yields returns on your contributions based on a specified equity-based index.
Immediate Annuity: You pay a single premium, and receive periodic payments of your money almost instantly.
Variable Annuity: Your premiums are invested in mutual fund-like investments of your choosing, and earn a return that varies according to the performance of those funds.
Having an annuity might be the best decision you make for your retirement. Woodberry Wealth Management & Associates will provide you with the best direction, and annuity advisors in New York. Contact us today to learn more.