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What Is An Annuity?

What is an annuity?

For one thing, you could use it to fund your lifestyle in retirement. There are a few different types of annuities. Namely: fixed annuities, fixed indexed annuities (FIAs), and also variable annuities. A fixed annuity does protect your money, however, the interest rate is fixed. Typically, its rate is lower than the rate you could receive from an FIA or variable annuity. A variable annuity, however, carries a higher risk. This is because its rate is determined by the stock market. As such, your principal balance is at risk in a variable annuity. However, an FIA doesn’t have this problem. In fact, and FIA offers the protection of principal and a reasonable rate of return over time.

Which annuity is right for you?

Should you consider an annuity? To discover which answers are right for you, DPG Senior Solutions can help walk you through your options. At our firm, we believe in being upfront and honest about how things work. We’ll clarify the details of any products we recommend. In addition, we can help review your portfolio and current retirement strategy. In this way, you’ll be able to see what your true rate of return in now, and what type of risk you may have. Balance, protection, and keeping things simple – those are principles we work hard to adhere to.

The Myths & The Facts

What is an annuity? There are many untruths out there about what an annuity is and is not. Technically, an annuity is a contract with an insurance company. In this contract, you are given a promise by the insurance company that they will protect your principal. So, an annuity has safety because your initial money is safe from loss. Additionally, an FIA has the added benefit of a reasonable rate of return. Your money links with an index, not the stock market. When the index goes up, so does your return. However, if the FIA index goes down, your money remains stable.

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Because of stability,

many retirees use annuities as a lifetime income source.

Also, FIAs may offer other benefits such as leaving money to your beneficiaries. Or, providing an increase in income as living costs rise. This might be accomplished via an income rider. Each policy and product is different, of course. So, be sure to ask us about details for your situation. The FIAs of today offer a lot of flexibility and protect a wide variety of needs for retirees.

It's important to note,

that not all annuities are equal.

For instance, variable annuities may carry risk similar to that of a stock market investment. Specifically, if the market drops with a variable annuity, so does your principal. At DPG Senior Solutions, we want you to learn ways to protect your money. To accomplish this, we have relationships with insurance companies offering FIAs and fixed annuities. With safety as a guiding principle, retirees can feel confident about their future.

Retirement Seminar Reveals

"What is an annuity?"

One way to learn details about how “safe money” strategies work is to attend a seminar.

We offer no-cost dinner seminars and online events designed to educate you on important retirement topics. We’ll go over “what is an annuity?” as well as issues about taxes, distributions, 401(k)s, IRA(s), and more. Also, our events give you the chance to learn about any new tax laws, regulations, or potential issues that may impact your retirement.

If you prefer, you may also schedule an appointment to speak with us directly. During our discussion, we can go over topics such as:

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If you prefer, you may also schedule an appointment to speak with us directly. During our discussion, we can go over topics such as:

Which Line: Red or Green?

Markets Go UP, And Markets Go Down

That’s what the “red line” represents. However, some options available in retirement allow you to see an increase when markets are up. Yet, no loss when markets are down. This is represented by the “green line.” FIA’s are one way some retirees protect their retirement savings, no matter what happens in the market.

Looking to find out more?

Come visit us at one of our seminars. Or, just contact us for an appointment.

Together, we can find out “what is annuity” and what it might mean for you.

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