↩ Back to Financial Services

Annuities

Today, the majority of the burden for retirement income seems to have shifted to the individual. For this reason, you may want to consider a guaranteed* fixed income component to your retirement strategy. In short, adding an annuity may be an opportunity to help ensure a portion of your retirement income will be guaranteed.*

An annuity is a contract you purchase from an insurance company. For the premium you pay, you receive certain fixed and/or variable interest crediting options able to compound tax deferred until withdrawn. When you are ready to receive income distributions, this vehicle offers a variety of guaranteed* payout options. Most annuities have provisions that allow you to withdraw a percentage of the value of the contract each year up to a certain limit. However, withdrawals will reduce the contract value and the value of any protected benefits.

Excess withdrawals above the restricted limit typically incur “surrender charges” within the 5 to 15 years of the contract. Because they are designed as a long-term retirement income vehicle, annuity withdrawals made before age 59½ are subject to a 10 percent penalty fee, and all withdrawals may be subject to income taxes.

*Annuity guarantees rely on the financial strength and claims-paying ability of the issuing insurance company. Annuities are insurance products that may be subject to fees, surrender charges and holding periods which vary by carrier. Annuities are not FDIC insured.

↩ Back to Financial Services

All written content on this site is for information purposes only. Opinions expressed herein are solely those of Imber Financial Group, LLC. and our editorial staff. Material presented is believed to be from reliable sources, however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed in detail with your individual adviser prior to implementation. 

Fee based financial planning and investment advisory services are offered by Imber Financial Group, LLC, A Registered Investment Advisory Firm and Capital Asset Advisory Services, LLC, and SEC-Registered Investment Advisor (Registration does not imply a certain level of skill or training). Insurance products and services are offered through Imber Wealth Advisors, Inc.. Imber Financial Group, LLC. and Imber Wealth Advisors, Inc. are affiliated companies. The presence of this web site shall in no way be construed or interpreted as a solicitation to sell or offer to sell investment advisory services to any residents of any state other than the State of Michigan or where otherwise legally permitted.

Guarantees provided by insurance products are backed by the claims paying ability of the issuing carrier.

The ‘Your Retirement Income Planning Checklist’ is provided for informational purposes only.  It is not intended to provide tax or legal advice.  By requesting this report, you may be provided with information regarding the purchase of insurance and investment products in the future. 

Hyperlinks on this website are provided as a convenience. We cannot be held responsible for information, services or products found on websites linked to ours.