Fixed Income Annuity: The Basics

A fixed income annuity is just another way you can set up your retirement to ensure you have an income for as long as you live. With the fixed income annuity, you deposit money into an interest-bearing account and receive fixed payments on that money from your date of retirement until you pass away. As you might expect, there are many ways to customize your fixed income annuity as well.

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The Fixed Income Annuity:
Steady Payments and Guaranteed Growth

Options For the Fixed Income Annuity

As an annuity, you have many options for customizing your fixed income annuity. You can change the way you accumulate your account, you can share it with your spouse (the joint pension annuity), set a specific period for your payments and much more. To find out the best options for your fixed income annuity, please seek professional guidance.

Taxes On the Fixed income Annuity

If your fixed income annuity was arranged well, your tax obligations should be minimal. Most people only need to pay taxes on the interest earned on the money they paid into the annuity account. Since there are so many variables to tax laws, please contact one of our professional advisors for more information on this matter.

Managing Your Own Fixed income Annuity

Although it is possible to manage your own fixed income annuity, we do not recommend this practice. You will be much happier with the results of your financial planning by having someone working to manage your retirement on a daily basis. If you have any questions about managing your retirement or about fixed income annuities, please contact us online or call us today. The advice is free, the value: priceless.

The fixed income annuity helped this couple retire well.

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