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.
Hyde Group Wealth Management & Insurance. 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!