Annuities

GUARANTEED RETIREMENT INCOME

If you are looking forward to a comfortable and relaxed life during retirement, then annuities are a beneficial choice. Annuities can provide a nice income, or supplemental income, especially for those who think social security may not be enough for retirement, and your money grows tax free.

Invest in your future with an annuity.

Newkirk & Company can help you find an annuity plan that works best for you.

Annuities are not “one size fits all” products, however; whether you are just starting to plan for retirement, are fast approaching retirement, or have already retired, an annuity may be right for you. The easiest way to understand annuities to is to think of them as the opposite of life insurance. Annuities pay when you are alive; life insurance pays when you die.

HOW AN ANNUITY WORKS

When you retire, the investment plan helps in generating a steady income. Once you start your payments, only the gains you made on your annuity are taxed, and since many of us typically have lower income during retirement, the gains may be taxed at a much lower rate than it would have been during your working lifetime. There is no limit to the amount of money you can contribute to an annuity, unlike a 401K or IRA.

Annuities can be purchased from insurance providers, banks, mutual fund companies, stockbrokers, and other financial institutions. In most cases annuities are a long-term investment vehicle, since the costs involved make it necessary to hold an annuity for a number of years in order to reap financial benefits.

CHOOSING THE BEST OPTION

Any type of investment needs a great deal of consideration, and hence, you need to seek professional guidance. Let the financial experts at Newkirk & Company help determine if an annuity is right for you with a free, no obligation consultation.