CONTACT US
Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.
1021223-00005-00
William Orr, CRPC®
Financial Planner
WillO Financial Solutions
8888 Keystone Crossing, Suite 500
Indianapolis, IN 46240
Phone: 317-708-5589
Cell: 317-750-9964
Email: william.orr@prudential.com
January/February 2025
Guaranteed Retirement Income
If you're looking for some measure of assurance in retirement in a financial world where few guarantees exist, a fixed annuity* may make sense. While there are many different annuities, one type — a fixed annuity — offers the security many people want.
Your Choice
Fixed annuities are available through insurance companies, banks, and other financial firms. They come in two flavors: immediate and deferred. Both guarantee a minimum interest rate, which is usually different from the introductory rate and is often higher.With fixed deferred annuity contracts, you get the guaranteed interest rate credited to your account balance and eventually will receive a regular payment based on your rate and annuity contract length. Immediate annuities begin, as the name implies, right away and base payments on a credited interest rate and contract length.
Payments can last for a fixed term, ranging from a few years to many, and they can even last your lifetime (usually for an extra fee).
Your Funding
Historically, annuity owners typically didn't have a workplace retirement plan or wanted to put away more money than their plans allowed for retirement. That's changing. Increasingly, 401(k) providers are working with other financial firms to offer plan participants the opportunity to convert all or part of their balance to an annuity.Your age, whether you have another retirement plan, and other factors can affect whether contributions are tax-deductible or made after-tax, but payments of the earnings are always taxable as ordinary income, making your after-tax net susceptible to changing tax rates. Growth is tax-deferred during the accumulation phase.
There are other types of investments that can potentially provide higher retirement income, but very few offer these guarantees. Do your homework to learn if a fixed annuity is right for you.
*Fixed annuity contracts guarantee a minimum credited interest. The insurer credits a fixed interest rate to contributions in the accumulation phase and pays a fixed income payment when annuitized. For immediate fixed annuity contracts, annuitants receive a fixed income stream based, in part, on the interest rate guarantee at the time of purchase. Annuity products are not FDIC-insured, and their guarantees are backed solely by the claims-paying ability of their issuing life insurance company.
Life insurance is issued by The Prudential Insurance Company of America, Newark, NJ, and its affiliates. WillO Financial Solutions is not affiliated with Prudential Financial. WillO Financial Solutions sells insurance products of Prudential Financial's affiliated insurance companies in addition to products of non-affiliated insurance companies. WillO Financial Solutions is authorized to sell and service certain insurance products of Prudential Financial companies as well as use this material. WillO Financial Solutions and its representatives do not render tax or legal advice. Please consult your own advisors regarding your particular situation. Offering financial planning and investment advisory services and programs through Pruco Securities, LLC (Pruco), under the marketing name Prudential Financial Planning Services (PFPS), pursuant to a separate client agreement. Offering insurance and securities products and services as a registered representative of Pruco, and an agent of issuing insurance companies. 1-800-778-2255.
This newsletter is general educational information provided by a Prudential Financial Professional and is not intended to market or sell any specific products and services, but rather provide general information about the subject matter covered only.
WillO Financial Solutions and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.
The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.