In today’s low-interest-rate environment, there are fewer fixed income alternatives for retirees seeking income. With rates on traditional staples such as CDs and money market accounts at or near all-time lows. Fixed-income annuities are an alternative to consider for retirees seeking income and safety. The issuing insurance companies back the claims-paying ability of all annuities. Once thought of as only a standalone retirement income solution, a fixed-income annuity is now commonly recognized as one of many components of a retirement portfolio.
Not all fixed income annuities are created equal or are all the providers of these products. We can help you decide if a fixed income annuity is right for your situation, and if so, which product is the best for your unique situation. Why not give me a call to discuss your financial situation and to see if a fixed income annuity makes sense for you?
Withdrawals are subject to ordinary income tax and, if taken before age 59 ½, a 10% federal penalty. They will reduce the contract value and other benefits under the contract. Withdrawals that exceed any free withdrawal amount during the surrender period will be subject to a surrender charge.
These are the opinions of the author and not necessarily those of the Registered Investment Adviser or Broker/Dealer. They are for informational purposes only. Do not be construe or act upon these opinions as individualized investment advice.
Retire Well Dallas. specializes in providing strategies and guidance for those who are seeking a better lifestyle in retirement. Whether you have a retirement nest egg of five million dollars or $50,000, we can help you make sure it works as hard and as smart as you did in earning and saving it. We offer our experience and knowledge to help you design a custom strategy for financial independence. Contact us today to schedule an introductory meeting!