Are you scared, unsure or confused about your financial security in retirement?
The goal of our comprehensive annuity guide is to help you gain a greater understanding of annuities. You will learn how annuities work, reasons to consider annuities, the types of annuities there are, payout options, special features, fees and associated costs, misconceptions and more.
Download the guide to keep on hand or share with others who might benefit from learning more about annuities.
Grow your retirement savings with Annuities in Tacoma Washington
An annuity is a retirement tool that can help you grow your savings, safeguard your nest egg, or convert what you've saved into steady income later in life. You can fund an annuity with a one-time payment or a series of contributions over time. As your money grows, it typically benefits from tax-deferred growth, allowing your earnings to compound without immediate tax impact.
Benefits of Annuities in Tacoma Washington
Guaranteed Income
Annuities provide a reliable and steady stream of income, often for life. This feature ensures financial security, especially during retirement, as you won't outlive this income source.
Tax Advantages
Many annuities offer tax-deferred growth, meaning you won't pay taxes on your earnings until you withdraw them. This can help you maximize your savings and potentially reduce your overall tax liability.
Asset Protection
Annuities can offer a level of protection against market volatility. Fixed and fixed-indexed annuities, in particular, guarantee your principal, so you won't lose money due to market downturns.
Death Benefit
Annuities can provide a death benefit, ensuring that your loved ones receive a lump sum or continued income if you pass away before receiving all the annuity payments. This can be a valuable financial safeguard for your beneficiaries.
What is an Annuity?
How annuities work?
An annuity is a contract between you and your insurance company that allows your earnings to grow and compound tax-deferred. Tax deferral is a powerful benefit you can use to help accumulate wealth for your retirement or meet other long-term financial goals. The word "annuity" literally means "annual payments".
A popular choice...
An annuity contract has two phases: an accumulation phase and a distribution phase. When you buy an annuity, the insurance company agrees to pay you an income for a specified period of time; either beginning immediately (an immediate annuity) or after an accumulation period ends (a deferred annuity).
Annuities are a popular choice for investors who want to receive a steady stream of income in retirement. The income you receive from an annuity can be distributed monthly, quarterly, annually or even in a lump sum payment.
Annuities for retirement planning...
Annuities can be a key part of your overall retirement strategy. Anyone who considers buying an annuity should do their research and consult with an annuity professional to ensure that it's an appropriate investment for someone in their situation.
What are the types of annuities Penny Lane Financial, LLC offers?
At Penny Lane Financial LLC in Tacoma, we offer a range of annuity products designed to help you build a more secure retirement. Whether you're looking for guaranteed income, tax-deferred growth, or principal protection, we’ll help you find the right fit. We specialize in fixed annuities, fixed indexed annuities, and immediate annuities, each offering unique benefits to match your retirement goals. Let us guide you through the benefits of annuities and how they can support a confident and stable financial future.
Fixed Annuities
Offers a guaranteed interest rate and steady, predictable growth. Your money is protected and grows tax-deferred until you withdraw it.
Fixed Indexed Annuity
Similar to a fixed annuity but with the potential to earn more based on the performance of a market index. Your principal is still protected, even if the market drops.
Immediate Annuity
Purchased with a lump sum and starts paying you a guaranteed income right away—ideal if you’re already in retirement and need consistent income.
Frequently Asked Questions About Annuties in Tacoma Washington
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