Broker Check

Guidance Throughout Your Journey

11039 Broadway Suite C
Crown Point IN, 46307
(219) 779-9183
 

Saving for Retirement

Annuities and Individual Retirement Accounts (IRAs) can help give you the retirement security you desire. The professionals at TrueWealth Advising Group have the knowledge and resources to help guide you every step of the way.

Annuities

Annuities can be a big part of retirement strategy. An annuity is a fixed sum of money paid out, giving steady source of steady income as long as you live. Annuities are also designed to help you accumulate and protect your retirement assets.

Types of Annuities

  • Fixed Annuities
  • Deferred Annuities
  • Variable Annuities
  • Indexed Annuities
  • Income Annuities
  • Single Premium Immediate Annuity

Potenitial Benefits of Annuities

  • Receive tax-deferred accumulation and compounding within the annuity contract
  • Guaranteed rates of return in fixed contracts
  • Guaranteed lifetime payments if you annuitize

Annuities are long-term financial products designed for retirement purposes. They are contractual arrangements in which payment(s) is made to an insurance company, which agrees to pay out an income stream or a lump sum amount at a later date. There maybe contract limitations, fees and charges associated with annuities, which may include mortality and expense risk charges, sales and/or surrender charges, administrative fees, and charges for optional benefits. Your financial services professional can provide additional information and complete details regarding all of the choices you may have for your particular situation. 

All guarantees are based on the claims paying ability of the issuing insurance company. Withdraws are subject to ordinary income tax and if taken prior to age 59 ½ may be subject to a 10% federal tax penalty.

IRAs

IRAs are designed to help you secure your retirement. The main advantage of an IRA is that you defer paying taxes on the earnings and growth of your savings until you actually withdraw the money.

Types of IRAs

  • Traditional IRA 1
  • Roth IRA 2 
  • Spousal IRA
  • Rollover IRA
  • Stretch IRA 3

Benefits of IRAs

  • Tax-deferred strategies
  • Flexibility to choose from various financial products


1 Distributions from traditional IRAs are taxed as ordinary income and, if taken prior to reaching age 59½ may be subject to an additional 10% federal income tax penalty.

2 To qualify for the federal tax-free and penalty-free withdrawal of earnings, a Roth IRA must be in place for at least five tax years, and the distribution must take place after age 59½ or due to death, disability, qualified education expenses, qualified medical expenses, or a first-time home purchase (up to a $10,000 lifetime maximum).  Depending upon state law, Roth IRA distributions may be subject to state taxes.

3 Stretch IRAs are designed for individuals who will not need the money in the account for their own needs.  Most stretch IRAs assume the IRA will distribute the smallest amount of money from the IRA the law allows, beneficiaries of the IRA die before reaching their full life expectancy, tax laws do not change, a constant rate of return despite the fact that account values may vary substantially and cannot be predicted, and do not incorporate inflation estimates.  Therefore, stretch IRAs must be carefully considered before implementation as assumptions can very significantly from actual results.