
Retirement Income
Tips When Buying a Fixed Annuity
The answers to important questions when buying a fixed annuity.
A fixed annuity is a tax-deferred retirement savings vehicle that provides fixed asset accumulation, much like a CD. With a fixed annuity, you can invest your savings over a specified time horizon (typically 3 to 10 years), earning a fixed return. The interest earned in your fixed annuity is not taxed until withdrawn, and your principal is guaranteed.
Fixed annuities are also known as Multi-Year Guaranteed Annuities (MYGAs), fixed rate annuities, fixed deferred annuities, and single premium deferred annuities.
After years of working with clients, we’ve built an easy checklist to help you decide if a fixed annuity is a good fit for you:
Sometimes it’s easier to see what you are instead of what you aren’t. If you can check off these boxes, a fixed annuity may not be a good fit for you:
If you plan to annuitize your fixed annuity upon maturity, it’s worth considering purchasing a Deferred Income Annuity (DIA). Read more about Deferred Income Annuities here.
This checklist is a good outline, but we know that it’s sometimes easier to sort through the specifics of your financial future with someone over email or phone. We’re always here to help! You can contact us at [email protected].
At Blueprint Income, we offer fixed annuities from more than 15 top rated insurance companies. Click below to get real-time personalized quotes.
From there, you’ll get access to our annuity guides and team of specialists who can walk you through the application process.
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The answers to important questions when buying a fixed annuity.
Fixed annuities have several financial benefits to help make retirement planning simpler, but also have some drawbacks. Find out what a fixed annuity has to offer before you purchase.
At Blueprint Income, we're working to make the annuity market a simpler and easier space to navigate. Each day we're focused on offering a better service and product that makes sense for you.