Annuities
You’ve worked hard to build your nest egg. Now you need to make sure your money will be there when you need it. A single-premium deferred annuity, can help you address savings shortfalls, manage inflation, guard against market losses, and generate guaranteed income for life. Milestone Retirement Planning Services has extensive expertise dealing with these dependable investment vehicles.
Now answer yourself: At this stage of life, are you more inclined to choose a maybe or a sure thing?
An income annuity is a contract you purchase from an insurance company. You deposit an initial premium, and in return, upon the time of your choosing you begin receiving set payments which you and your spouse CANNOT outlive.
You can typically choose from a variety of guaranteed payout options, choosing to receive payments for the rest of your life, a set number of years, or otherwise.
Most annuities have liquidity provisions that allow you to withdraw a percentage of the value of the contract each year up to a certain limit, though this will reduce the value of any protected benefits. Excess withdrawals above an imposed limit typically incur “surrender charges” within the first five to 15 years of the contract, so it is important to plan carefully with an advisor to maximize your returns. Annuity withdrawals from a qualified annuity made before age 59½ are subject to a 10 percent penalty, and any withdrawals may be subject to income taxes.
*Annuity guarantees rely on the financial strength of the issuing insurance company. As insurance products, annuities may be subject to fees, certain charges and holding periods. Annuities are not FDIC insured.