Annuities are financial products that can provide guaranteed lifetime income in retirement as well as tax-deferred growth potential. Many retirees consider annuities because they offer protection against market volatility. Annuities also allow you to convert a lump sum of money into a predictable stream of income that can last for the rest of your life. This provides peace of mind knowing you won't run out of money even if you live longer than expected.
Younger investors also have a great opportunity to leverage annuities for enhanced growth potential. With decades ahead until retirement, their savings have time to compound tax-deferred. Annuities allow you to invest in subaccounts with stocks, bonds, and other assets just like a 401k or IRA. However, annuities provide benefits those accounts can't. For example, some annuities offer full principal protection against market losses through fixed interest crediting options. Others allow you to lock in market gains annually through index annuities.
Annuities give you flexibility to choose an access term - like 5, 7 or even 10 years - that meets your needs. By giving up access for a defined period, younger investors can take advantage of tax-deferred growth in a safer, more structured product. While other accounts leave you fully exposed to volatility, annuities help younger investors stay invested through market ups and downs. This ability to keep steadily accumulating savings can tremendously impact a nest egg over the long term.
At Legacy-Shield, we have access to all the top annuity carriers in the country. We take the time to understand your financial situation and goals. Based on your needs, we will help you explore various annuity products and find the best one to meet your objectives. Whether you are concerned about outliving savings in retirement or want to grow your money tax-deferred, we can guide you through the annuity selection process.
Contact us today to learn more about how annuities can provide you safety and growth.
