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Annuities
Income annuities provide a powerful solution for individuals seeking a predictable income stream, protection against market volatility, and a foundation for a comfortable retirement. At Cox Generational Wealth Strategies, we offer a diverse selection of annuity options to match your unique financial goals:
- Fixed Annuities: Enjoy guaranteed returns and a stable income stream with fixed annuities. Your principal investment remains protected, and you receive a predetermined interest rate, providing financial stability in uncertain times.
- Immediate Annuities: With immediate annuities, you make a lump-sum payment to the insurance company, and in return, you start receiving regular payments immediately. This can be suitable for individuals who want to convert a large sum of money into a reliable income source.
- Deferred Annuities: Deferred annuities have two phases: an accumulation phase and a distribution phase. During the accumulation phase, your investment grows tax-deferred. The distribution phase begins when you start receiving payments, which could be at retirement or a later date.
What They Offer
Income annuities can be considered a good investment option for certain individuals based on their financial goals, risk tolerance, and retirement plans. Annuities for retirement income have quickly been gaining in popularity. Here are some reasons why annuities might be considered beneficial:
- Lifetime Income: Annuities can provide a guaranteed stream of income for life, which can help individuals avoid the risk of outliving their savings.
- Tax Advantages: The growth of the annuity's value is typically tax-deferred until you start receiving payments, allowing your investment to potentially grow faster over time.
- Stability: Fixed annuities offer a predictable income stream, which can be especially valuable for retirees who want to ensure a stable financial situation.
- Death Benefit: Many annuities offer a death benefit, which means that if the annuitant passes away before receiving the full value of the annuity, the remaining amount is paid to beneficiaries.