Winston Salem Immediate Annuities
The products we rely on to plan for retirement have changed a lot over the years. While Social Security and pensions have been reliable options for retirement income, they have shifted to a point where they will only be available to some. This means it’s very important to prepare now for what will occur in retirement. For many, immediate annuities are a product that can help them accomplish this goal.
What Is An Immediate Annuity?
Before we can explain the details of this product, we must first discuss annuities in general. Annuities are financial products that function as an agreement between a person and a financial institution. The individual makes a lump sum payment to the financial institution, who makes regular payments back to the person throughout the life of the annuity. Relating to when these payouts happen, there are two basic types of annuities: deferred and immediate. While deferred annuities do not start until a later time, immediate annuities can start immediately.
For those looking for recurring income payments within a short amount of time, immediate annuities* can be a great choice. Another important feature of these annuities is they feature tax-deferred growth, which means you do not need to pay taxes on this increase until the money is withdrawn.
You have many different options when it comes to immediate annuities, which can make this choice difficult. By working with Semmax Financial Group, you’ll have access to many of these companies and have options available as you select a Winston Salem immediate annuity. Through this structure, we’re better equipped to find an annuity that meets your needs.
Talk to one of our knowledgeable financial professionals to learn more about immediate annuities in Winston Salem. After a short conversation on your current finances and retirement goals, we should be able to determine if an immediate annuity is a good choice for you. Call us today and set up your appointment.
*Disclosure: Insurance Products guarantees are subject to the financial strength and claims‐paying ability of the issuing company, and may be subject to restrictions, limitations or early withdrawal fees. Annuities are not FDIC insured.