Many of us will accumulate financial assets for retirement using a number of different methods. With interest rates at historical lows, its difficult to see your nest egg grow like it should, let alone keep up with inflation. Annuities offer an alternative to bank accounts, CD’s and Money Market options.
Fixed annuities are guaranteed by the insurance company so that your principal is protected. In addition, a competitive interest rate is guaranteed for 5-10 years and interest is accrued on a tax-deferred basis until liquidated.
Saxon Insurance contracts with many annuity carriers and have helped clients secure better returns by purchasing annuities outright or by rollovers from existing IRAs or Fixed Annuity products.
Annuities are purchased through insurance companies. Fixed annuities offer tax deferred growth and a competitive interest rate that is often higher than traditional bank accounts. Annuities also offer a payout phase that can be taken in various regular payment methods, or can be liquidated at the end of the contract term.
Annuities, like IRA’s, have a double tax benefit.
#1. Contributions are deducted from current income tax.
#2. Interest earnings are tax deferred until withdrawn.
Regular annuities are non-tax qualified, but will have their accumulations built on a tax deferred basis, and are not taxed until withdrawn.
With that in mind, I have a long standing contract with the Lenz Financial Group in Portland. With 250 years of combined experience, their team of insurance professionals, financial and estate planners, lawyers and CPA’s help me provide the best life insurance products to my clients in Oakridge.
Call 541-782-4094 during business hours or click the button below to contact us for more information.
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