Annuities are designed to turn the dollars you invest into an income stream you cannot outlive, providing you a source of income before or during retirement.
An annuity is a contract between you and your insurance company and can provide immediate income, or grow until you need income later. Even if you’re already contributing the maximum amounts to other retirement plans, like an IRA or 401(k), an annuity is an attractive retirement planning option that grows tax-deferred.
Annuities can help meet:
- Extra income needs — by filling the gap between early retirement and the beginning of Social Security benefits or provide more during the early, more active years of retirement
- Retirement needs — by helping cover essential expenses in retirement not covered by Social Security, pension plans or personal savings
- Non-retirement needs — by providing reliable, regular income, such as payments to college students to cover living expenses
To live life to its fullest, you need to be prepared. Today, many of us will live well into and beyond our 80’s, and creating a plan to meet your future financial needs will help you prepare for this longer life expectancy. Annuities can help you meet this financial need.
Most people are not sure what type of coverage is right for them. Jason K Powers and his team help clients find the best suitable products that maximize their current and future needs. Reach out below to schedule a time with Jason and talk through your options!