Remember when you were a kid and your parents would give you an allowance for completing the simplest of tasks? It was great when doing things you were supposed to do anyway—like cleaning your room or feeding the dog—netted you cold, hard cash.
As an adult, easy money is much harder to come by – unless of course you have an annuity. An annuity is an investment that accrues money and pays it out in pre-determined amounts. You can use this as a supplement to retirement income, or as an inheritance to your heirs. These payouts can be doled out over a lifetime, or in just a few years.
There are three primary types of annuities that we offer. Each has its own particular uses:
- Flexible Premium Deferred Annuity: Make payments into your annuity on a schedule or whenever you have the available funds. You choose when and how much to fund this account. The money is available to use whenever you’d like, and can be a great way to save for retirement.
- Single Premium Deferred Annuity: If you have a large lump sum of at least $10,000 to invest, this annuity can help you start receiving payments in just three, five or seven years.
- Single Premium Immediate Annuity: Want an immediate source of income? Then this option is your best bet. It can be used for a variety of reasons, including as a life annuity, or a survivor annuity in case your spouse outlives you.
Want more information about which annuity choice is right for you? Call us today at 410-897-9890, and let’s talk about what best fits your life. Then, let the money roll in!