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Annuities in California and Nevada
Serving Las Vegas, Pasadena, San Francisco, Palm Springs, Los Angeles,and surrounding areas.
What is an annuity?
An annuity is a long-term investment between you, the annuitant, and an insurance company, the annuity issuer. Under this contract, you pay after-tax funds to the annuity issuer, who then invests your principal to meet your financial objectives and pays you or your beneficiary back with earnings (subject to the claims-paying ability of the issuer).
If you have a fixed annuity, your interest rate is guaranteed.
Unlike other investment plans, there is no limit to how much you can invest in an annuity. Your funds will steadily grow with a tax-deferred status, and you pay your regular tax income rate on only your earnings upon withdrawal.
What annuity options are available?
1) An immediate annuity or a SPIA (single premium immediate annuity) can begin paying you right away. You can choose whether you want your income guaranteed for a specific time period or if you want lifelong payments or both. The amount of your payments is calculated based on your principal and your life expectancy.
2) A deferred annuity is an investment that pays an interest rate. This type of annuity is a safe investment because it is not affected by the stock market and it's value can only go up by the interest it is making. A deferred annuity is broken up into two phases:
- Accumulation: This is when you add money to your annuity, whether you pay in a lump sum or you make a series of payments. You can continue to let your account grow tax-deferred for an indefinite amount of time.
- Distribution: This is when you begin withdrawing money from your annuity whether you take out systematic withdrawals or you annuitize to supplement your finances with a regular stream of income for life.
3) Index Annuity is an investment whose income payments or the way it grows is tied to a stock index, such as the Dow, Nasdaq, or the S&P 500. Index annuities perform well then the stock market goes down because your value can not go down due to the stork market. When the Stock Market goes up the Index annuity participates and its value goes up.
Why buy an annuity?
An annuity is a good investment option for individuals who want something that is not volatile and can give the customer a steady growth. Your earnings can then be used for supplemental income during retirement, guaranteed financial independence as you age, or a monetary legacy to leave behind for your loved ones. An annuity can help you continue living comfortably well into old age.
Can an annuity be purchased in an IRA?
You can purchase an annuity within an IRA. This can give the client the piece of mind of having steady growth for their retirement assets.
Contact us to learn more about planning your future with an annuity. We are happy to answer your questions and help begin your investment process today.