Tax deferred fixed annuities work well for those seeking higher credited interest rates that traditional banks offered over the years. And the tax deferral feature can have a significant financial impact for those in high tax brackets who are mid to long term savers.
Benefits Advisor, 401 Benefits Services Co, Fort Lauderdale, Fl 33304
You know ... I have a friend who works tireless hours to receive government benefits. One may wonder why he doesn't get a job?! Anyways, there are many moving parts in Fixed (Indexed) Annuities. (FA) But 'Do they work' is a tad broad. Here are a few questions you may want to know, before moving forward with a FA:
- Why are you thinking about a FA?
- What do you wish to accomplish?
- Do you need income now, later, forever (so long as you shall live) - with a spouse, or it for something else?
- Is liquidity (without penalty) an immediate concern?
- Is long term growth with protection of principal your primary goal?
Get where I'm going with this? In the world of FAs, there are many moving parts and many options. Did you know that Texas and Florida are the only two states in the US that have added protective benefits, built into annuities? Point being, a good Agent / Advisor will take the time to do a thorough needs analysis to determine what you seek, if a FA suits your needs and if applicable show you two or three options and let you choose what YOU believe is best for you.
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- Why are you thinking about a FA?
- What do you wish to accomplish?
- Do you need income now, later, forever (so long as you shall live) - with a spouse, or it for something else?
- Is liquidity (without penalty) an immediate concern?
- Is long term growth with protection of principal your primary goal?
Get where I'm going with this? In the world of FAs, there are many moving parts and many options. Did you know that Texas and Florida are the only two states in the US that have added protective benefits, built into annuities? Point being, a good Agent / Advisor will take the time to do a thorough needs analysis to determine what you seek, if a FA suits your needs and if applicable show you two or three options and let you choose what YOU believe is best for you.
Just my two-cents!