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More Myths About Fixed Indexed Annuities To Ignore
- Myth: Annuities are too complex for the average person to understand. Fact: An annuity is simply a contract you make with an insurance company get financial benefits in the future, such as during retirement. When you buy a fixed indexed annuity, you set aside some of your retirement savings in return for a future stream of income from that pool of money.
- Myth: If you die you’ll lose the balance of an annuity. Fact: Actually, fixed indexed annuities can allow you to pass the money in your annuity to one or more named beneficiaries after your death. You can even choose to set up your annuity as “joint life” in order to provide you and your spouse guaranteed income for life, no matter how long each of you live.
- Myth: Annuities are only good choices for older investors. Fact: The truth is, no matter your age, an annuity can be a smart way to diversify your financial portfolio. In fact, having a portion of your assets in a fixed indexed annuity can provide balance and stability for your retirement.