Annuities

Annuities can be very simple or complex.  There are various types of annuities.  We will discuss Non Variable Annuities here. They can be used for tax deferral or for income planning.  They play a role in estate and retirement planning as well.  Fixed annuities typically carry a conservative yet competitive interest rate and grow on a tax deferred basis. They are then taxed upon taking withdrawals. They can be valuable for conservative investors looking for a competitive rate of return and possibly, tax savings.

 Immediate Annuities, SPIA ( Single Premium Immediate Annuity) or DIA (Deferred Immediate Annuities) offer clients an income stream, and may be used for retirement and estate planning purposes, however in this type of annuity you may give away control of the asset in exchange for that income.  You must diligently plan when purchasing this type or an other type of annuity.  We will assist with these decisions and work diligently in selecting the best product to fit your needs!