Understanding Annuities

Annuities are financial products designed to provide a steady stream of income. They can be a conservative investment choice, offering benefits such as tax deferral and guaranteed income. Understanding the different types of annuities and how they work can help you make informed decisions about your financial future.

There are several types of annuities, each serving different purposes:

• Fixed Annuities: Provide a guaranteed payout over a specified period, offering stability and predictability.
• Variable Annuities: Allow for investment in various sub-accounts, which can fluctuate in value based on market performance, providing the potential for growth.
• Immediate Annuities: Begin payments almost immediately after a lump-sum investment, suitable for those who need income right away.
• Deferred Annuities: Accumulate funds over time and begin payouts at a later date.

To learn more about the best fit for your needs, contact us to speak with one of our specialists who understands the ins and outs of annuity contracts.

When to Consider Professional Guidance on Annuities

Consulting a professional about annuities may be beneficial in the following situations:

• Seeking Conservative Investments: If you prefer low-risk options for your investments, annuities may align with your financial goals.
• Needing Guaranteed Income: An annuity can help ensure you have a consistent income, which can be particularly important in retirement.
• Looking to Defer Taxes: Annuities can offer tax-deferred growth on earnings, which may be advantageous for your investment strategy.
• Wanting to Diversify Your Portfolio: Including annuities in your investment mix can provide additional security and balance against market volatility.
• Wishing to Secure Lifelong Income: Some annuities are designed to provide income for the rest of your life, which can enhance financial security.

If you have questions about how annuities work and how they can fit into your overall financial plan, please feel free to reach out for more information.

Contact Us

Ready to take the next step? Request a call back with Sokol Eisenberg in Columbus, OH, to discuss your annuity options. Our dedicated team is here to help you achieve your financial goals with confidence and peace of mind.