Understanding Different Retirement Strategies
Owens Financial Group works with a wide variety of insurance carriers, offering products that can help strengthen your retirement strategy & improve your financial confidence.
During our initial conversation, we'll work together to help determine which products might be suitable for you.
Fixed Indexed Annuities (FIAs), are one example of insurance products that address some basic retirement concerns. Consider these key FIA benefits:
Principal is Protected
Even with market volatility, you will not lose value on your fixed index annuity. Your savings aren’t exposed to market fluctuations, so even in a negative market return, interest credited will never fall below zero.
Also, you can never lose your interest once it’s credited to your principal.
Guaranteed Income Stream
With Americans living longer and spending more time in retirement, many retirees are concerned about outliving their savings. In turn, they are searching for a product that can help ensure a steady income stream. Some fixed indexed annuities* (FIAs) are designed with guaranteed lifetime income, so you can never outlive your earnings.
Diversification of Assets
A balanced retirement strategy is essential for managing risk and reward in the financial markets. Designed for the long term, fixed indexed annuities* (FIAs) are a great retirement vehicle to ensure you are not putting all your eggs in one basket. FIAs offer the ability to grow your assets without the risk of losing your assets.
Tax Deferred Growth
Fixed indexed annuities (FIAs) offer tax-deferred growth. This allows your money to grow faster. As long as your money stays in the annuity, you will not be taxed on interest earnings. Once you receive a payout, the annuity is taxed as ordinary income.
Is an FIA all I need?
The benefits of fixed indexed annuities (FIAs) can help balance risk and reward in your overall portfolio, which may already include retirement accounts and other investments.
The best retirement income strategy ensures balance by bucketing money in a variety of vehicles, as each has unique benefits.
Working with Owens Financial Group to review your options, as well as the impact of those selections on your savings and retirement income potential, can prove to be invaluable for your financial goals.
*Annuity guarantees rely on the financial strength and claims-paying ability of the issuing insurer and are not guaranteed by any bank or the FDIC. As such, the rating of any issuing insurer (ie insurance company) by third party organizations such as A.M. Best, Moody's, Fitch and Standard & Poor's are important factors to consider.
"Generally, an “A” rated insurance company is considered one that performs at the top of its industry in creditworthiness (the ability to repay creditors and pay any claims presented) as well as how it performs financially when compared to its peers."
—Janet Hunt, The Balance, June 2020
