Fixed Annuities - Planning Ahead

There are limits to how much an individual can contributed  to IRAs and employer-offered 401(k) retirement plans.  As one of the biggest retirement risks is outliving your savings, fixed income annuities may help to avoid that pitfall, allowing you to plan for a lifestyle you’ve worked hard to achieve.


Advantages to fixed income annuities include:

  • No contribution limits
  • Steady income now or in the future
  • Tax-deferred earnings for retirement


Fixed annuities provide several payout options – payments for a specified period, payments for life, post retirement payments.  Provided you’ve been able to consistently contribute to your fixed annuity, it’s a great way to provide regular income during your retirement years.


This is where professional expertise can be incredibly valuable.  A good financial advisor understands each individual’s unique situation and will really listen and help guide you through investing in fixed annuities and provide sound advice based upon your concerns.

 

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XCEL FCU is a credit union serving members in New Jersey, New York and across the country.