Annuities and how they work in Mobile and Baldwin Counties

At Care Financial, our goal is to provide you with a retirement plan that will protect your savings from market risks, provide safe growth, guarantee your principal and provide you and your spouse (if applicable) with an income that will last a lifetime. We can even help you create a Legacy for your loved ones, charity organization or church if that’s your desire. We all insure everything important to us (ex. our health, automobiles, homes), so why not ensure your retirement/savings that you’ve worked so hard to earn? Let us show you how an annuities can work for you.

With an annuity, you have many options to choose from, including income. You can either receive your income in lump-sums or periodic payments (ex. monthly, quarterly) that will payout during retirement. Most companies offer a penalty-free withdrawal up to 10% every year after you’ve had your account for a minimum of 12 months. This gives you access to your money if you’re not planning on taking an income from your account for several years just in case you need to for those “Life Happens” situations. We all know things come up unexpectedly, so having a free withdrawal option is very helpful.

There are many types of annuities. The most common types are:

Multi-Year Guaranteed Annuities (MYGA’s)

These have a set fixed interest rate for a certain period of time. When that time is up, you can take your money and do as you please or leave it in for another period of time if you like the current interest rate that is being offered.

Fixed Indexed Annuity

These have a fixed interest rate and grow from external market indexes such as the S&P 500 Index. They protect from possible market loss. This type of product gives you the gains when the market is doing good and protects you from losing when the market goes down. You cannot lose due to a market correction. This type of product can be used for someone who is looking strictly for growth with income immediately or in the future for a lifetime. There’s a lot of options with this type of product (growth, income, legacy planning just to name a few).

Single Premium Immediate Annuity

These products have their place in certain retirement portfolios for clients with a specific need. They can provide a lifetime income or an income for a certain period of time.

There are many misperceptions about annuities.

Hover over each box to see the reality.

Establishing an annuity can be extremely beneficial to your future. Let the professionals at Care Financial work with you so that you can create a clear road map for your retirement and not have to worry about the “what if’s”.

To discuss your options to purchase an annuity, contact the annuity professionals at Care Financial. We are here to help you prepare for your financial future and retirement. We serve Fairhope and Mobile, AL. To schedule a time to meet with one of our financial planners, call us at (251) 633-7122.