Annuities From Burton & Company
At Burton & Company, we offer several types of annuities so you can find the right approach for your budget and future plans. These long-term contracts can be obtained through insurance companies and allow you to invest your money in exchange for income in the form of regular payments. Here is a look at some of the most common types of annuities:
Fixed Annuities
Fixed annuities can protect your investment from typical market fluctuations by providing guaranteed rates. The value of a fixed deferred annuity will grow tax-free, although you will have to pay taxes on the earnings when you start taking income from it. A fixed annuity offers guaranteed income for life, regardless of how long you live.
Fixed Indexed Annuities
A fixed indexed annuity provides a good balance between protection and growth potential because its returns are based on the performance of a specific underlying index, such as the S&P 500 Composite Stock Price Index. This offers protection from negative returns while providing an opportunity for growth. The value of the annuity will grow tax-free, but you will pay taxes when you make a withdrawal.
Variable Annuities
A deferred variable annuity allows you to determine how your assets are invested by choosing sub accounts such as stocks, bonds and money markets. These can fluctuate, which means that variable annuities have greater growth potential. However, they may also lose money, so they’re a good option for people who don’t mind taking on some risk. You can choose how you want to receive your income, either as payments you won’t outlive or by taking money as needed.
Immediate Annuities
An immediate annuity is a way of providing yourself with predictable income during your retirement that you can spend on your living expenses. It allows you to turn a lump sum, such as from an inheritance or business sale, into a stream of income that is guaranteed for life, regardless of how long you live. Alternatively, you can choose to receive monthly annuity payments for a set period of time. With an immediate annuity, you can start taking income right away or defer payments for as long as a year.
Registered Index-Linked Annuities
A registered index-linked annuity is a tax deferred option for long-term savings that will limit your exposure to downside risk while giving your money the potential for growth. Your returns will be partly based on the performance of an underlying index. Although there is a certain level of risk, there is a higher upside potential.
Talk To The Annuities Team At Burton & Company
When you’re making major decisions about your future, you need expert guidance. At Burton & Company, we’ll work with you to determine your financial goals and your appetite for risk to find the best approach to providing you with a stream of income during your retirement so you can make the most of your golden years. Give us a call at (888) 652-1325 or request a quote online to get started today.
