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Predictable Income Solutions in Ringoes, New Jersey, Serving the entire Tri-state area

In the case of a fixed annuity, the interest rate is guaranteed, ensuring predictability.
On the other hand, a variable annuity's earnings are linked to the performance of your chosen investments and can be higher or lower than your principal upon redemption. While variable annuities offer greater control over investment options, they also come with increased risk.


Understanding Annuities

An annuity is a long-term investment contract established between the annuitant (you) and an insurance company (the annuity issuer). This agreement involves providing after-tax funds to the annuity issuer, who then invests your principal, intending to meet your financial objectives. The issuer returns the accumulated earnings to you or your designated beneficiary, subject to their ability to fulfill claims.

In the case of a fixed annuity, the interest rate is guaranteed, ensuring predictability.
On the other hand, a variable annuity's earnings are linked to the performance of your chosen investments and can be higher or lower than your principal upon redemption. While variable annuities offer greater control over investment options, they also come with increased risk.

Annuities differ from other investment plans because there are no specific contribution limits. Your funds have the advantage of growing steadily on a tax-deferred basis, and you are only required to pay regular income tax on the earnings when you withdraw.

Available Annuity Options

  1. Immediate Annuity: With this option, you begin receiving payments right away. You can choose between guaranteed income for a specific period or lifelong payments. The exact amount of your payments is determined based on your principal and life expectancy.
  2. Deferred Annuity: This type of annuity consists of two distinct phases:
  • Accumulation: During this phase, you contribute funds to your annuity through a lump sum payment or regular installments. Your account continues to grow on a tax-deferred basis for an indefinite period.
  • Distribution: In the distribution phase, you can withdraw money from your annuity through systematic withdrawals, providing a regular income stream.

Benefits of Annuities

Annuities are a favorable investment choice for individuals seeking higher returns despite taking on increased risk. The earnings from annuities can be utilized for supplemental retirement income, ensuring financial independence as you age or leaving behind a financial legacy for your loved ones. By incorporating annuities into your financial plan, you can strive for a comfortable lifestyle throughout your retirement years.
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