by Chris Carter | Aug 7, 2024
Annuities do carry some risks, including: Liquidity Risk: Annuities often have long surrender periods, during which withdrawing funds can incur significant penalties. Inflation Risk: Fixed payments may lose purchasing power over time if they do not adjust for...
by Chris Carter | Aug 7, 2024
When selecting an annuity, consider the following factors: Type of Annuity: Decide between fixed, variable, indexed, and immediate annuities based on your income needs and risk tolerance. Payout Options: Choose between lifetime income, fixed-term, or joint survivor...
by Chris Carter | Aug 7, 2024
Switching annuity providers can be done, but there are important considerations: Surrender Charges: Many annuities have surrender charges for early withdrawal or transfer, which can be costly. Exchange Options: You may be able to use a 1035 exchange to transfer funds...
by Chris Carter | Aug 7, 2024
Selecting the right annuity involves several steps: Assess Your Financial Goals: Determine your retirement income needs and how an annuity fits into your overall financial plan. Understand Different Types: Learn about fixed, variable, indexed, and immediate annuities...
by Chris Carter | Aug 7, 2024
Fixed-term annuities offer several benefits: Predictable Income: They provide a guaranteed income for a specific period, which can help with budgeting and financial planning. Flexibility: You can choose the term length that best suits your financial needs, typically...
