Grow My Retirement Savings
Everyone says, “Save for retirement.”
But there’s more to it.
It’s not just about putting money aside. It’s about taking charge of your future with a strategy that balances growth, flexibility, and tax advantages, so your savings works for you.
Here’s how you can truly grow your retirement savings:
Balancing Risk and Growth
Sure, high-risk investments might promise big rewards.
But they also expose you to market volatility.
And low-risk options?
They may bring greater peace of mind but could lack the growth potential you need.
However, there is an alternative.
Fixed indexed annuities let your savings grow based on the performance of a market index like the S&P 500, but with built-in protection to shield you from downturns.
This allows you to capture a portion of market gains without risking the loss of your hard-earned retirement savings.
Ensuring Flexibility When You Need It Most
You’ve probably heard that annuities “lock up” your money.
We get it—that’s a common misconception.
Here’s the truth:
While annuities are meant for long-term planning, with surrender charges that apply for a specified period of time, they’re more flexible than most people realize. Many let you take penalty-free withdrawals of up to 10% annually. Additionally, Required Minimum Distributions (RMDs) can typically be taken without penalty, providing even more access options.
Some annuities, like our WealthChoice fixed indexed annuity, also feature an optional Guaranteed Living Benefit Rider (GLBR), which offers a flexible income stream.
These liquidity options help you adapt to changing circumstances while staying on track with your long-term goals.
When selecting savings strategies, consider how quickly you might need access to your funds and what options are available for avoiding penalties.
Annuities can be a valuable part of a balanced plan, providing growth potential and liquidity when needed.
Leveraging Tax Deferral
Most investments get taxed every year, chipping away at your gains.
But what if you could have more of your money growing untouched?
That’s what annuities offer.
The potential growth in an annuity is tax-deferred, meaning more of your money stays in your annuity, compounding over time because you don’t pay taxes until you make a withdrawal.
This tax-deferred growth can be especially beneficial if you’re in a higher tax bracket now than you expect to be in retirement when you may start to receive income from your annuity.
Pairing annuities with other tax-advantaged accounts could accelerate your savings and make a significant impact on your retirement outlook.
Take the first step toward a more strategic approach to retirement planning.
Explore how Guaranty Income Life annuities can help you achieve your retirement goals.
