One of my big rules is to never lose money. So many people who are looking to retire, but are going through the hardships of seeing the market fall, as we are entering a presumed recession. Remember, when the market goes down, you need more appreciation to break even. For example, at the market goes down 50%, you need a 100% game just to break back even. So worrying about losses can be a huge factor.

This is where your annuities come in. Where are you can have a guaranteed floor with an index, so in downtime’s like we are currently experiencing, you are not losing any retirement income. Now, remember yes you can roll over your 401(k) or your IRA into Annuities, but you must know where the money is coming from to know how it’s going to be taxed.

You have qualified funds, and non-qualified funds, when it comes to Annuities. Just think of it, as you are qualified to be taxed, which are things like a 401(k) or IRA, or you are not qualified to be taxed if it’s coming from places like your bank, or a Roth IRA. So you must factor these things in , and also realize this is a long term strategy. You “will“ be penalized, or as they call it a surrender fee, if you are trying to cancel an annuity before the designated timeframe. So keep these options and things in mind as you’re looking to move money from Annuities or into annuities.

Message me if you have any questions or want to know about the limits and how you can use this to your benefit!
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An annuity is a financial product that can provide you with a steady stream of income for the rest of your life. It is a contract between you and an insurance company where you make a lump-sum payment or a series of payments, and in return, you receive regular payments for a predetermined period of time, often until death. Annuities can be a valuable tool for creating lifetime income and financial security in retirement.

Here are some tips on how to create lifetime income through an annuity:

1. Choose the right type of annuity: There are several types of annuities available, including fixed annuities, variable annuities, and indexed annuities. Each type has its own set of features and benefits, so it’s important to choose the one that best fits your financial goals and needs. Fixed annuities offer a guaranteed rate of return, while variable annuities allow you to invest in a variety of sub-accounts tied to the stock market. Indexed annuities offer the potential for higher returns based on the performance of a stock market index.

2. Consider adding riders: Annuities often come with optional riders that can enhance their benefits. For example, a guaranteed minimum income benefit rider can ensure that you receive a minimum level of income regardless of market fluctuations. Other riders, such as a long-term care rider or a death benefit rider, can provide additional protection and financial security.

3. Diversify your income sources: An annuity can be a valuable part of your retirement income strategy, but it shouldn’t be your only source of income. It’s important to diversify your income sources to reduce risk and ensure financial stability in retirement. Consider creating a diversified portfolio that includes a mix of pensions, Social Security benefits, annuities, and other investments.

4. Consult with a financial advisor: Creating lifetime income through an annuity is a complex financial decision that can have long-term implications for your financial security. It’s important to consult with a financial advisor who can help you understand your options, evaluate your financial goals, and create a personalized retirement income plan that meets your needs.

In conclusion, creating lifetime income through an annuity can be a valuable strategy for ensuring financial security in retirement. By choosing the right type of annuity, adding optional riders, diversifying your income sources, and consulting with a financial advisor, you can create a steady stream of income that will last for the rest of your life.