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Annuities Can Be a Powerful Retirement Tool
There are many different ways to think about retirement, and your dreams may not appear on anyone’s bucket list but your own. No matter how you envision retirement, having the freedom to live life your way will depend, at least in part, on having a secure source of reliable income. Annuities are one of the few sources of retirement income that can guarantee income for life.
There are many different types of annuities to help you accomplish your retirement goals. Whether it be for accumulating assets for retirement, creating a guaranteed income stream for life, or transferring assets into a retirement plan, Straight Forward Life & Annuity can find the right options for you. We have access to hundreds of different annuities that can match your retirement strategy need.
The new definition of retirement, with all of its possibilities, does not happen automatically. Many of the issues naturally associated with aging and retirement, such as poor health and the need to provide income, still do exist. Enjoying the retirement you have earned and so richly deserve involves careful consideration of your goals and strategic planning to hedge against potential problems that threaten to interfere with your security and well-being during this time.
The Different Types of Annuities
Fixed annuities are sometimes called Multi-Year Guaranteed Annuities or MYGA's for short. These are usually term specific annuities (2yr, 3yr, 5yr, etc) with a guaranteed interest rate.
Fixed indexed annuities are similar to fixed annuities in that the principal amount is guaranteed by the insurance company.
Single Premium Immediate Annuities or SPIA's are a type of annuity that is funded with a single payment and creates an immediate income stream.