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Annuities: What are they and How Do They Work?

Annuities are financial products designed to provide a reliable stream of income, typically for retirement. They work by allowing you to invest a sum of money with an insurance company, which then grows tax-deferred. Depending on the type of annuity, you can receive guaranteed payments over a specific period or for the rest of your life:

Fixed Deferred Annuities:
Secure, steady growth with a guaranteed interest rate.

Indexed Annuities:
Growth potential linked to market performance while protecting your principle.
Immediate Annuities:
Guaranteed income payments that start right away, ensuing a steady cash flow during retirement.

Annuities can be customized to meet your financial goals, offering peace of mind and stability in a comprehensive retirement strategy.

If you’ve heard negative things about annuities from sources like Fisher Investments, Dave Ramsey, or Suze Orman, you’re not alone. While these voices have valid perspectives for certain situations, their broad critiques often don’t apply to everyone. Let’s address some common misconceptions:

"Fees are outrageous!."
While some annuities have fees, many options, such as fixed and indexed annuities, offer low-cost or no-fee structures. Understanding your options is key.

"You lose control of your money."
Modern annuities often come with flexible withdrawal options, allowing access to funds for emergencies or other needs.
Annuities are a bad deal."
Annuities are not designed to compete with high-risk investments like stocks. Instead, they offer stability, tax-deferred growth, and guaranteed income, making them a powerful complement to other retirement savings.

At WaterRock Life, we believe in educating our clients so you can separate fact from fiction and make informed decisions based on your unique needs—not on generalized advice.

Debunking Annuity Myths and Fake News.

The Benefits of Annuities in Retirement Planning

Annuities provide several unique advantages that make them an essential part of a well-rounded retirement strategy:

Guaranteed Income:
Annuities offer the peace of mind of knowing you won’t outlive your income.

Tax-Deferred Growth:
Your investment grows without immediate tax consequences, allowing your money to compound over time.
Market Protection:
With fixed and indexed annuities, your principal is protected from market volatility, giving you stability even in uncertain times.
Customizable Options:
From lifetime income riders to spousal benefits, annuities can be tailored to fit your retirement needs.

Annuities are not a one-size-fits-all solution, but when properly aligned with your financial goals, they can provide unmatched security and peace of mind.

Don't Just Take Our Word For It!

Tom Hegna: CLU, ChFC, CASL

Tom Hegna is an economist, author, and retirement expert. He has been an incredibly popular industry speaker for many years and is considered by many to be THE Retirement Income Expert!

As a former First Vice President at New York Life, retired Lieutenant Colonel, and economist, Tom has delivered over 5,000 seminars on his signature "Paychecks and Playchecks" retirement approach, helping Baby Boomers and seniors retire the "optimal" way.