Annuities
Most people want to live a very long life. However, longevity comes with risks, and it’s the biggest risk in retirement.
Your financial planning should account for these potential risks, and one way to do this is by purchasing an annuity.
What Is an Annuity?
An annuity is an insurance contract that allows you to turn part of your assets into profit that you cannot lose. It’s a different investment option that also lets you create a personalized income stream that lasts for life.
How it works is you transfer money to a provider that invests your cash according to your strategy and the type of annuity you select.
There are different types of annuities designed to meet different investment objectives. Whether your financial goals include fixed growth, Indexed growth, funding long-term care, wealth transfer, or something else, you can find an annuity that aligns with your intentions.
Annuities can provide security, knowing that you won’t outlive your assets.
Who Needs an Annuity?
Annuities aren’t just for retirees.
If you’re looking to diversify your investment portfolio pre and post retirement, you can benefit from an annuity.
FREE
no-obligation consultation.
Types of Annuities
Fixed Annuities
Fixed annuities are the safest type of annuity because they pay a guaranteed interest rate, no matter what the market does. This helps protect your original money and provides steady growth over time. Fixed annuities can also provide dependable, tax‑deferred income, making them useful for people who want predictable retirement income. You can choose to receive payments right away or wait until a later date.
Variable Annuities
Fixed-Indexed Annuities
This type of annuity is often considered a win-win situation. It offers a guaranteed minimum return while also allowing interest to grow based on market index performance—without directly investing in the market. Built‑in limits help manage risk, and some options can provide guaranteed income or benefits tied to long‑term care, adding flexibility to a retirement plan.
Immediate Annuities
Deferred Annuities
These are designed to provide income at a future date. They allow your money to grow over time and can later pay out as regular income or a lump sum. Deferred annuities are often used to build retirement savings now and generate income later, with payments available starting at least one year after the annuity is opened.
Consult with a Trusted Advisor
Some annuity contracts can be complex. Talk with Williams Financial Group to see if an annuity makes sense for you and your retirement goals.