Annuities - Prosperity Financial - If it's money, it's personal.
  • +1 925 314 8500
  • elliot@prosperityfg.com
  • Mon - Fri: 8:00 - 5:00

Annuities

You may not be familiar with annuities, but they have rich history dating back to Ancient Rome. In fact, millions of Americans currently use annuities to help their retirement savings grow and to create protected income that can help cover essential expenses and contribute to a more enjoyable retirement.

In its simplest terms, an annuity is a contract between an individual (or married couple) and a life insurance company. You can purchase an annuity with a portion of your retirement savings in either a single payment or with multiple payments, depending on the type of annuity. Once you own an annuity, any growth in your account may be on a tax-deferred basis while you continue to have control of your money, as needed.

Annuities can be an important part of a diversified retirement portfolio because they can ensure that your retirement income is protected even when there are downturns in the market. So no matter how your other retirement investments perform, annuities can provide you with a source of protected lifetime income that few other financial products can offer.

Certian types of annuities offer you the flexibility to receive protected lifetime income while maintaining access to your money.

When you’re ready to take income, you may receive payments in a variety of ways depending on your needs and the type of annuity you purchased. You can choose to receive income immediately, or at a later date. Payments can be in lump sums of your choosing, in a series of payments for a specified period of time or you may choose to receive guaranteed payments for as long as you live.

Annuities are long-term, tax-deferred investments designed for retirement. Variable annuities are subject to investment risks including the possible loss of principal value. Earnings are taxable as ordinary income when distributed and may be subeject to a 10% additional tax if withdrawn before age 59 and a half years old.

Optional benifits, such as guaranteed income options available in variable annuities, carry additional fees and charges in addition to the ongoing fees and expenses of the variable annuity and are subject to conditions and limitations. Guarantees are backed by the claims-paying ability of the issuing insurance company.

Want to know more about Annuities?

Book a virtual appointment with one of our Advisors today.

Share:

Share on facebook
Share on linkedin
Share on twitter
Share on google

More Posts

Services
CLeeDesigns

Life Insurance

Life Insurance planning and funding serves various needs.  What if I die to early and my family cannot pay off the mortgage or future education costs?  Can I create a

Read More »
Services
CLeeDesigns

401(k)

If it’s money, it’s personal – especially if your business rides on it. Prosperity understands the responsibility and pressure today’s business owners feel. Whether it’s hiring and retaining qualified employees,

Read More »
Services
CLeeDesigns

College Planning

College is generally not a surprise. From the time your children are born, if you suspect they’re going to go to college—and about 68% of high school graduates do—you have

Read More »
Services
CLeeDesigns

Retirement Planning

A Retirement Plan Custom Tailored To Fit Your Needs A retirement plan doesn’t come one-size-fits-all. What you should save depends on your current lifestyle needs. Your advisor will help you

Read More »
Services
CLeeDesigns

Wealth Management

Our goal is to provide our clients with the best Financial Planning Advice available. We have been a Wealth Advisory Firm for more than twenty years in the Greater San Francisco

Read More »
error: Content is protected !!