Phoenix Retirement Annuity & Annuities
At MyAnnuityGuy.com™, we realize that a Palm Springs retirement annuity is of great interest to those who desire to look forward to a financially stable and comfortable retirement. Uncertainty about whether your retirement income will be there for the rest of your life is frightening. During your “golden years,” you want there to be no doubt that you will be able to pay your bills, buy groceries and generally enjoy life. We offer all of the information and education you need to determine whether Palm Springs retirement annuities are right for you, and which product best suits your individual needs.
Those planning for retirement (or who are already retired) know that with most plans, there are risks and unknowns. You may be contributing to a 401k plan at your place of employment, investing in stocks, bonds or other commodities, or have an IRA account. However, what most people desire is the lowest possible risk for a product that offers the best yield – which is where Palm Springs retirement annuities come in. According to experts, individuals should save approximately 10% of their annual income each year in order to have sufficient funds for their retirement. Even when you do that, it’s hard to know which savings vehicle is the most reliable, and which you can trust to provide an ongoing income upon your retirement.
If you are thinking about a Palm Springs retirement annuity, which is right for you? Variable, fixed indexed, fixed, immediate, combination, deferred – it can be confusing, to say the least. For most people, consulting with an experienced advisor who can explain all of the various Palm Springs retirement annuities and educate you on why certain products may be most suitable for you is recommended. Something as important as financial stability during your retirement years should never be left to chance, or guesswork.
Below is a bit of information about each of the 5 basic categories of Palm Springs retirement annuities:
Immediate Annuity. With this product, you receive income for the rest of your life after investing a lump sum of money. Similar to a pension.
Hybrid Income Annuity. Hybrid annuities are also referred to a combination annuities. This product allows you to mix and match declared or index in a single account, without risking your principal to downturns in the market.
Fixed Index Annuity. A hybrid or “cross” between a variable and fixed annuity, you have the option of rider premiums and earn interest credits when the market is up, but will not lose your interest should the market slide. This product can grow the value of your income by as much as 8% per year, compounded, when you attach a rider (this is optional).
Fixed Deferred Annuity. Similar to the interest you would gain on a CD, this product provides a tax benefit in that the investor will not pay taxes on the earnings until their withdrawal. You elect when you want to receive your payments, whether it be in monthly installments or as one lump sum.
Variable Annuity. This annuity option offers no principal protection and is much like owning mutual funds. While the product is tax deferred, it is possible to lose when the market suffers a loss. This option doesn’t offer the protection of other annuity products, but is suitable for many who are more aggressive and not afraid to take a risk.
Whether you are already retired or plan to retire in the next year or two, it is important that you understand all of your options when it comes to Palm Springs retirement annuities. At MyAnnuityGuy.com™, we offer the expertise and in-depth understanding of annuities to help you make a wise choice for your retirement years. Give us a call any time of the day or night, we are here to answer your questions and offer guidance to those considering a Palm Springs retirement annuity.