Annuities in Tryon, NC
Today’s longer life expectancy is certainly worth celebrating, but it can pose a challenge when it comes to retirement planning. With an increasing span of retirement years and the potential for unexpected expenses, it may seem difficult to save up enough money to meet all your needs. For some, the answer to this predicament is an annuity.
SwartzCPA provides annuity services to residents of NC. We help you to navigate annuities and choose the best option for working toward the financial security of your future. Contact us today to learn more about our annuity services and expertise.
Our Annuity Services
When properly utilized, especially in combination with other financial investments like Social Security and pensions, annuities can be an excellent way to supplement a retiree’s income. However, the many types of annuities available and the complex nature of retirement investing means that trying to make sense of things without guidance could leave you open to making uninformed decisions that may not actually be to your benefit.
At SwartzCPA, we help you to understand all of your financial options, including annuities, and can advise you into which types and plans are most likely to benefit you. We facilitate purchase and payout and help you keep tabs on the stages and development of your annuity, so you know your financial status at any given moment. We recommend annuities as part of a custom-built investment plan, allowing our clients the opportunity to grow their funds while maintaining the flexibility to deal with changing life circumstances.
Types of Annuities
Annuity types can vary in how you pay into them, how you receive money from them, and how the funds may be invested in the interim period. The most common types of annuities include:
- Single-Premium Annuities: In which you pay the investment all at once.
- Flexible-Premium Annuities: In which you pay the investment in installments, requiring less money up front.
- Immediate Annuities: This type begins repayment immediately after the annuity is fully funded (often with a single premium). It is most often used by new retirees looking to grow their retirement funds.
- Deferred Annuities: Payout begins at a designated time many years after the contract is made. Payments may be given in a lump sum, or in a series of regular payments over a guaranteed period. These are often used as long-term investment vehicles, and benefit from being tax-deferred.
- Fixed Annuities: The funds are placed into a fixed income investment (such as a bond), providing a guaranteed principal with a fixed interest for a specified period. Because of these guarantees, this investment vehicle is considered low-risk.
- Variable Annuities: This annuity offers the flexibility of choice, allowing you to designate your money to multiple managed funds, namely stocks, bonds, and cash-equivalents. It is higher risk than a fixed annuity, but offers the benefit of a tax deferral on any earnings.
Fixed Index Annuities
This annuity falls somewhere between a fixed and a variable annuity. These annuities provide tax deferrals as well as principal protection, ensuring that the original deposit will not decrease if the index performs poorly. *
Fixed index annuities can offer greater opportunity for growth than a standard fixed annuity, but the principal protection provides less risk than a variable annuity. Spousal opportunities or beneficiary options may also be available, giving you the ability to financially protect your loved ones as well as yourself. For many working toward retirement, this balanced option provides a useful tool to supplement their income.
Conservative Financial Advisement in Tryon
At SwartzCPA, our focus is on helping clients meet their financial goals and work toward the retirement they can look forward to. We use our years of experience to make informed recommendations, and steer clear of extravagant trades that pose a high risk to your hard-earned capital.
For intelligent investment and retirement planning, set up a consultation today.
Information presented on this website is not intended as tax or legal advice. You are encouraged to seek tax or legal advice from a qualified professional.
*Annuity product guarantees rely on the financial strength and claims-paying ability of the issuing insurer. Annuities are not guaranteed by any bank or credit union and are not insured by the FDIC or any other federal government agency.