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Annuity Awareness Month

As life expectancy in the US has significantly risen since 1980, a testament to the advancements in our healthcare system. Yet, this extended lifespan brings forth its own set of financial challenges, particularly when it comes to retirement planning. As individuals look ahead, ensuring financial security for a longer, more fulfilling life becomes crucial. It’s here that annuities shine, offering a reliable solution to alleviate the financial burdens that can accompany longevity. As June marks Annuities Awareness month, John Douglas Financial Group is committed to illuminating the transformative potential of annuities, serving as the missing piece in solving your retirement puzzle. Join us as we dive into the world of annuities and discover the path to a potentially more secure and prosperous future.

Understanding annuities starts with simplifying the concept without drowning in financial jargon. In straightforward terms, an annuity is a financial tool designed to ensure you have a steady income, especially during retirement. Picture this: You invest your money into an annuity, and in return, it pledges to pay you a regular income for as long as you live, all while deferring taxes on those earnings.

Now, while there are different types of annuities, they all share the common goal of providing you with a reliable source of income. Let’s break it down:

  • An Variable Annuity with Income Rider offers annual income, shielding you from market fluctuations.
  • On the other hand, a Fixed Annuity assures you a guaranteed interest rate, regardless of how the markets perform.
  • There’s the Fixed Indexed Annuity, which is tied to a market index, offering upside potential and downside protection.
  • Then we have the Registered Index Linked Annuity which are tied to a specific Market Indexes. Typically, RILAs have a buffered strategy element, which offer downside protection from market losses. Protection levels range from 10%, 15%, and 20%.

But how do you know which annuity suits you best? That’s where a financial advisor comes in. They can help tailor the right annuity to match your unique financial goals and circumstances.

We understand the complexities of retirement planning can be daunting, but annuities provide a reliable solution to the financial challenges accompanying longevity. As Annuities Awareness month continues, our commitment to illustrating the transformative potential of annuities remains steadfast. By deciphering the concept of annuities and providing personalized assistance, we empower individuals to make informed decisions that align with their goals. We hope you enjoyed our exploration into annuities, and if you need any further help, request a free, no obligation financial appointment. Here’s to a long life full of annuity income!

Please note that our content does not constitute an endorsement of any specific annuity product over another. We aim to provide unbiased information to help you make informed decisions about annuities that best suit your financial goals and circumstances.

Annuities are long-term investments designed for retirement purposes. Withdrawals of taxable amounts are subject to income tax and, if taken prior to age 59½, a 10% federal tax penalty may apply. Early withdrawals may be subject to withdrawal charges. Optional riders have limitations and are available for an additional cost.  Guarantees are based on the claims paying ability of the issuing company.

Securities and investment advisory services offered through Osaic Wealth, Inc. member FINRA/SIPC. Osaic Wealth is separately owned and other entities and/or marketing names, products or services referenced here are independent of Osaic Wealth.

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