{"id":5893,"date":"2022-06-07T12:17:22","date_gmt":"2022-06-07T16:17:22","guid":{"rendered":"https:\/\/mckenziefinancialgroup.com\/?post_type=services&#038;p=5893"},"modified":"2024-04-16T14:38:45","modified_gmt":"2024-04-16T18:38:45","slug":"annuities","status":"publish","type":"services","link":"https:\/\/mckenziefinancialgroup.com\/services\/annuities\/","title":{"rendered":"Annuities"},"content":{"rendered":"\r\n<p>An annuity is a contract between you and an insurance company that allows you to contribute money to a tax-deferred account. In return, you can get regular payments as income, or you can withdraw funds later starting on a certain date. The difference depends on whether your annuity is immediate or deferred. There are also single- and multiple-premium annuities. With the first, you pay a single lump sum at the start, and it grows. With the second you can spread your premium payments out over time.<\/p>\r\n<p>Annuities are also categorized by risk and how they generate earnings. Fixed annuities are considered the least risky. They\u2019re designed to guarantee income based on a minimum interest rate for the life of the annuity. A variable annuity lets you choose one or more investment options, called subaccounts, to potentially grow your funds. The growth potential is greater because you can invest in stocks and bonds \u2013 but the risk potential is also greater. Indexed annuities fall somewhere in the middle. They offer more growth potential than a fixed annuity, but with somewhat less risk than a variable annuity.<\/p>\r\n<h2 class=\"wp-block-heading\">Are Annuities a Good Investment?<\/h2>\r\n\r\n\r\n\r\n<p>Annuities are among the most varied and complex financial tools out there. But because of that, they also offer a wide range of options for a wide range of needs and situations.<\/p>\r\n<p>In addition to risk, other considerations when choosing an annuity include structure and payouts, tax advantages or disadvantages, rates, fees and commissions, benefits, and rider options. The list goes on. All of this illustrates why professional guidance is crucial when considering an annuity.<\/p>\r\n<p>Deciding whether an annuity is right for you, and then choosing the right annuity, will depend on a variety of factors, including the following:<\/p>\r\n\r\n\r\n\r\n<ul>\r\n<li>Your age and retirement timetable<\/li>\r\n<li>Your earnings<\/li>\r\n<li>Your retirement goals<\/li>\r\n<li>Your other sources of retirement income<\/li>\r\n<li>The markets<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\">Schedule An Annuities Consultation With McKenzie Financial Group<\/h2>\r\n\r\n\r\n\r\n<p>The bottom line is that certain types of annuities can be effective in helping you achieve your income goals in retirement. With that said, you must be careful to select the right type of annuity so you can avoid costly mistakes. Have the financial advisors of McKenzie Financial Group in Myrtle Beach see how annuities can best benefit you.\u00a0<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>We can help your annuities grow and preserve your retirement savings while also providing benefits to help protect your 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