A Fixed Annuity could earn a competitive rate of return and is guaranteed* for a specific period of time. Many investors utilize Fixed Annuities for short-term alternatives to banking or Wall Street savings products. All Annuities grow tax-deferred so you are not taxed until the earnings are withdrawn, which could provide a valuable tax reduction strategy when utilizing Fixed Annuities for Tax Deferral.
If we re-position assets into a Short-Term Fixed Annuity it is possible to reduce the overall amount of our taxable income, which may help in several areas of our tax return, including the possible reduction of Social Security taxation that could occur for those over the age of 62 1/2 that are currently drawing benefits.
Fixed Annuities are shorter in regards to term than other types of Annuities. All Annuities have surrender charges and withdrawal charges so we need to be careful that the money we position into a Fixed Annuity will not be needed for the entire term of the contract whether it is for 3-years or five.
We offer a complementary consultation which would include a Tax Analysis to see if you’re paying taxes on your Social Security Benefits and if there is a way to eliminate or reduce these taxes. If you’re CPA, Accountant, Financial Professional, or Tax Preparer have not laid out a detailed plan to lower your taxes, then a second opinion would be recommended.
We are Investment Advisor Representatives and both Heather Foster and Mike Albertson are Fiduciaries and are obligated to put your interests ahead of their own. We don’t sell products, but rather offer solutions to needs such as income in retirement and the reduction of the systematic risk of the Stock Market. We specialize in all types of insurance products including Fixed Annuities, Variable Annuities, Index Annuities, Immediate Annuities, Hybrid Annuities, and Life Insurance.
Annuities are best suited for long term investors. Any strategy utilizing investments carries an inherent element of risk. Withdrawals from an annuity prior to age 59 1/2 are subject to a 10% tax penalty in addition to income taxes on earnings.