Annuities allow for individuals to build wealth, manage taxes, accumulate assets and plan for income distribution during retirement. A fixed annuity contract has two phases: an accumulation phase and a payout phase. During the accumulation phase, the contract owner makes a payment or payments into the contract in exchange for a fixed return that is not subject to income taxes until withdrawal, permitting the tax deferred growth of your investment. During the payout phase, the accumulated value of the annuity contract can be converted into an income stream that can last for a set period of time or for as long as one lives. Warren Wealth Management has the opportunity to work with many fixed annuity companies. The different types of annuities:
Fixed Annuities Fixed annuities offer predictable growth and flexible features that make planning for future retirement goals easier.
Immediate Annuities When you are ready to start taking retirement income, you can choose from a variety of annuity payout options available through immediate annuities.
The employees of Warren Wealth Management do not provide tax or legal advice. As with all matters of a tax or legal nature, you should consult with your tax or legal counsel for advice.