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Explore Annuities with MSI
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Navigating Your Financial Future with Annuities
Why Annuities Are Essential for Long-Term Financial Security
Annuities are the only financial product that can provide you with guaranteed lifetime income and ensure that you are never at risk of outliving your savings. You can choose other types of disbursements, but lifetime income is most commonly chosen.
The right annuity for you depends on your financial situation, when you need payments to start—whether immediately or in the future, and the risks you’d like to take in the accumulation phase, if there is one.
What kind of annuity is right for me?
Fixed vs. variable annuity
A fixed annuity delivers a fixed rate of return—or the guaranteed income you are looking for— during a specified period of time. During that time, your investment is guaranteed to grow at the agreed-upon rate.
A variable annuity lets you invest your annuity funds for a possibly higher—or lower—rate of return, based on market fluctuations.
A third option—an indexed annuity—offers something of a middle path: performance that’s benchmarked to a market index, such as the S&P 500. Generally, indexed annuities cannot lose value, even in a down market.
Your risk tolerance determines which option is best for you, and an insurance or financial professional can help you determine the best fit for your circumstances.
Deferred vs. immediate annuity
A deferred annuity lets you accumulate annuity value on a tax-advantaged basis over time, say during your working years, and then convert the value to a guaranteed income stream at a specific time in the future.
A single premium immediate annuity (SPIA) is an annuity that you purchase with a single lump-sum payment and can begin generating income immediately. It skips the accumulation phase altogether.
Generally, your planned retirement date determines which option is best suited to you.
Other annuity options
Today, annuities offer more flexibility than ever before. Some options, for example, allow you convert the annuity to a product that can finance medical expenses. Separate annuities can be purchased over time for different purposes.
Because of the varied types of annuities, there is a typically a fit for anyone looking to add one (or more) to their financial strategy for retirement. That said, they are admittedly complex, which means that talking with an insurance or financial professional can help you find out if annuities are a fit for you.
Find out more about this top-rated MYG, Single Premium Fixed Deferred Annuity.
Explore Your Financial Future with MSI
Ready to secure your financial future? Contact Mark Sylvia Insurance Agency today to discuss personalized annuity and financial planning solutions tailored just for you.
Mark Sylvia Insurance Agency, LLC
Main Office - Centerville
404 Main Street • Centerville, MA 02632
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745 Falmouth Rd. - Hyannis, MA 02601