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Annuities. Go beyond saving money in a jar. Consider an annuity—a tax-deferred insurance product that pays out income and can be used as part of a retirement strategy. Annuities are a popular choice for investors who want to receive a steady income stream in retirement.

Annuities Features and Benefits

Defer taxes

Annuities allow you to put away a larger amount of cash and defer paying taxes. That’s a good thing, right? Save money for your future and wait to pay taxes on it until later. See annuity paperwork for specific details or call Sievers.

No annual limit

Annuities, unlike other tax-deferred retirement accounts such as 401(k)s and IRAs, has no annual contribution limit for an annuity. You can save more money for retirement. This option is particularly useful for those who are closest to retirement age.

Dollars compound

The money you invest compounds year after year. You don’t receive a tax bill from Uncle Sam. The ability to keep every dollar invested and working for you can be a big advantage over other taxable investments.

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Annuities Term Definitions

Fixed annuities

These are similar to CD investments. They pay guaranteed rates of interest.

Immediate annuities

This option is similar to a life insurance policy. Instead of paying regular premiums with a lump sum paid at the end, you pay a lump sum up front with regular payments later.

Indexed annuities

This is a combination of fixed and variable annuities. It provides a guaranteed minimum return.

Variable annuities

This option offers a selection of investments from which to choose. The return is determined by the performance of the selected investments.

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Our efficient process will help you save time

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1. Discuss options

We’ll thoroughly discuss the options with you. You decide which option is best. You can make an investment in the annuity with either a lump sum or monthly, quarterly, semi-annual, or annual payments.

2. Receive payment

The annuity makes payments to you on a future date or series of dates. The payments are monthly, quarterly, semi-annual, or annual payments or a lump sum. Or you can leave the annuity to your heirs.

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Frequently asked questions

How do I know if an annuity is right for me?

Some annuities require you not take it out for 1 to 10 years. Some annuities you take money immediately. It is critical that we work with you to determine the period of time that works best for your situation. Annuities may be a good option if you have a CD that isn’t gaining much interest. It may also be a good option if you’re paying tax each year or if you have you have maxed out other tax-advantaged retirement investment vehicles such as 401(k) plans.

What is the difference between a qualified (IRA) and a non-qualified annuity?

A qualified annuity accepts and grows funds with pre-tax dollars. A non-qualified annuity is funded with after-tax dollars so when you withdraw money, only the earnings are taxable.

What investment options do annuities have?

The type of annuity you have determines how many if any investment options you have. With a fixed-rate annuity, the insurance company chooses the investments. With a variable annuity, you will have a list that you can choose from and your account value will depend on the performance of the funds you choose. A variable annuity has the benefit of tax-deferred growth and its annual expenses are likely to be higher than mutual funds.

What payout options do I have?

The type of annuity you have determines how many if any investment options you have. With a fixed-rate annuity, the insurance company chooses the investments. With a variable annuity, you will have a list that you can choose from and your account value will depend on the performance of the funds you choose. A variable annuity has the benefit of tax-deferred growth and its annual expenses are likely to be higher than mutual funds.

Do all annuities have high fees?

At Sievers we believe in helping our clients make the best decisions for them, regardless of how it impacts us. We take only your best interests into account and make recommendations that accurately reflect your short and long term goals. Any annuity fee will be disclosed, discussed and necessary to meet those goals.

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