Middleton Immediate Annuities
Whether we like it or not, planning for retirement is changing and will continue to change. It’s quite difficult to rely on Social Security when its future is uncertain. This means it is very important to prepare now for what lies ahead in retirement. To accomplish this goal, many people have turned to immediate annuities.
About Immediate Annuities
Before we can get into the specifics of this product, we need to discuss annuities in general. Annuities are financial products that function as an agreement between a person and an insurance company. Whoever is buying the annuity makes a lump sum payment to the company, who agrees to make regular payments back to the owner at a predetermined time. There are two basic kinds of annuities, deferred and immediate, that determine how these payouts occur. Deferred annuity payments start at later time while immediate annuities can start payouts almost immediately.
Immediate annuities are often selected by people who want steady income payments and need them to start soon. Another important feature of these annuities is they feature tax-deferred growth, which means you aren’t required to pay taxes on this increase until the money is withdrawn.
There are several companies out there that sell immediate annuities, providing you with many different options. By working with Retirement Income Strategies, you will have access to many of these companies and have options available to you for Middleton immediate annuities. Through this structure, we’re better equipped to find an annuity that meets your needs.
Ready to learn more about immediate annuities? Meet with one of our experienced financial professionals in the Middleton area. After a short conversation on your current finances and retirement goals, we should be able to determine if an immediate annuity is right for you. Call us now to set up your appointment.