September 26, 2024

If you have a CD about to come due, you have a decision to make. Where to put those funds next. And, while retirement may look different for all of us, regardless of age, you want to make sure what you do now with your money will guarantee that it lasts in your retirement years. To make the most out of your retirement, choosing a fixed annuity is a safe choice to fund your future and your fun!

But first, let’s refresh!

The Basics – What is an annuity?

An annuity is a contract between you and an insurance company in which the company promises to make payments to you either immediately (Immediate Annuity) or in the future (Deferred Annuity). Essentially, with a fixed annuity, you are guaranteed* that you’ll have a stream of retirement income.

The perks, the advantages and all the good stuff

Perk:  Fixed annuity rates are guaranteed.

As you head into retirement, factors such as stock market conditions are out of your hands and nothing you can control. Fixed annuities can take the risk out of retirement planning because the rates do not fluctuate with the market. Once you purchase a fixed annuity product, that rate locks in and you can simply calculate how much your income payments will be in the future.

Advantage: Annuities can reduce risk in your return

Because fixed annuity rates are guaranteed, the risk of maximizing your return is inherently reduced. But wait, there’s more! There are other features to take advantage of. Annuities typically don’t have management fees, unlike most 401(k)s and other investment vehicles. With a KSKJ Life fixed annuity, we offer optional riders if you need to withdraw a portion of your funds early. This eliminates the risk of harsh penalty fees in case you need access to your funds sooner than expected.

All the good stuff: Annuities have built-in flexibility

Did you know annuities come packaged in two ways? Choice one is an Immediate Annuity and choice two is a Deferred Annuity. Deferred annuities delay payments and are usually the best option for people planning for retirement, but not quite ready. Immediate annuities offer payments instantly with no delay and are typically best for retirees who are looking for additional income.

Refresh Complete! Now you get to decide!

Need a suggestion? The KSKJ Life MYGA (Multi-Year Guaranteed Annuity) might be your answer! Offering tax deferred growth and guaranteed fixed interest rates for up to 10 years, our MYGA provides security and peace of mind with a number of term options to help meet your needs.  And with rates currently higher than the national average bank CD rate**, it’s a great way to ensure your money works hard for you. Ready to explore more?  Click HERE and see how a MYGA could help Fund Your FUN & future!

*Guarantees rely on the financial strength and claims paying ability of KSKJ Life. **Based on National CD Rates published on FDIC.gov September 16, 2024

Want to maximize your savings with a KSKJ Life annuity?

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