Broker Check

3 Common Myths About Annuities

May 22, 2023

Annuities have garnered fans and critics over the years and often are the subject of many misconceptions. But, especially in an environment of rising interest rates and high inflation, an annuity might be a great addition to your financial plan.

At its core, an annuity is a financial product that pays out a fixed amount in a series of payments. It can be a valuable tool in your retirement plan, especially considering that a portion of your retirement assets repositioned in an annuity can help lessen your investment portfolio reliance burden and provide the potential for guaranteed income to supplement Social Security. However, there is often lingering confusion about what an annuity is (and isn’t).

This helpful one-sheet flyer addresses the top three myths about annuities, outlining the myth, then explaining the truthful facts. Once you’ve had a chance to review, if you think an annuity might be a welcome addition to your retirement plan, let’s talk!

We love helping our clients feel confident and knowledgeable about their planning decisions. Give us a call if you’d like to learn more about annuities. We’re here to help!  

Fixed Annuities are products of the insurance industry and are designed for long-term retirement investing. Annuity guarantees are subject to the claims-paying ability of the insurance company. Surrender charges may apply if money is withdrawn before the end of the contract. All withdrawals of tax-deferred earnings are subject to current income tax, and, if made prior to age 59½, may also be subject to a 10% federal income tax penalty