When The Fine Print Isn't So Fine

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Review Your Retirement Needs

Let’s review your retirement goals together and see if your current plan is on track. Schedule a quick consultation to get clear, personalized guidance for your future.

Frequently asked questions

What is an annuity, and how does it work?

An annuity is a contract with an insurance company. You put in money, and in return you get guaranteed payments—either right away or in the future. It’s designed to provide steady retirement income you can’t outlive.

What’s the difference between a fixed annuity, a fixed index annuity, and a MYGA?

 

  • A fixed annuity pays a set interest rate for a set period.

  • A fixed index annuity ties growth to a market index (like the S&P 500) but protects you from losses.

  • A MYGA (Multi-Year Guaranteed Annuity) locks in a guaranteed rate for several years, like a CD with tax deferral.

 

How do annuities provide guaranteed lifetime income?

You can choose an “income rider” or “lifetime payout” option. This means the insurance company guarantees monthly payments for as long as you live—even if you outlive the money you originally put in.

Are annuities safe from market losses?

Fixed and fixed index annuities protect your principal from market downturns. Your account value won’t drop when the market does, though growth may be limited by caps or participation rates.

Can I use my 401(k) or IRA funds to purchase an annuity?

Yes. You can roll over qualified funds like a 401(k) or IRA into an annuity without paying taxes at the time of transfer. The annuity then continues to grow tax-deferred.

What happens to my money if I pass away—does my family inherit anything?

Most annuities can be set up with a death benefit so your beneficiaries receive the remaining balance or guaranteed payments. The details depend on the contract options you choose.

Are there fees or surrender charges with annuities?

Some annuities have no fees, while others charge for optional features like income riders. Most do include a surrender period—if you take out more than the allowed amount early, there may be a penalty.

How do I know which type of annuity is right for me?

It depends on your goals—whether you want income now, growth with protection, or guaranteed interest. A consultation helps match the right product to your retirement plan.