Annuities in Traverse City, MI

As you look ahead to the future, taking appropriate steps in the present can make all the difference when it comes to financial security and comfort. Although you may have savings and other financial assets set aside already, adding to your portfolio with additional investments can supplement your efforts and fortify your financial stability. Annuities can be critical investments.

What Are Annuities?

Available through many insurance companies, annuities can provide investment opportunities, affording individuals and families with ways to secure a stable source of income down the road. Essentially, annuities are financial products in which you invest either through lump sums or ongoing payments. These funds can remain secure and potentially accrue value over time, until such point that you choose to begin tapping them for sustainable income.

Are There Different Types?

Indeed, annuities may come in many forms. The right choices may depend on your current financial situation, retirement plans, lifestyle needs and other unique circumstances. To start, you may want to familiarize yourself with the following popular options:

• Fixed annuities can offer a guaranteed minimum interest rate and will not lose value over time. This can make them a safe option for those wanting to minimize risk.
• Variable annuities can provide greater potential for gains, albeit at greater risk. By investing in these products, your funds will be tied to market conditions, gains and fluctuations.
• Indexed annuities may act as a middle ground between fixed and variable options. With funds tied to a market index, such as the S&P 500, they may offer greater potential than the former while acting as safer investments than the latter.

Who Can Benefit from Annuities?

Although annuities may be a valuable tool for anyone, they can be especially appropriate if you and your family want to supplement other retirement income sources, such as Social Security, 401(k) plans or pensions, with additional funds. By investing in the right annuities, you can establish a guaranteed source of income for your golden years.

How Our Team Can Help

At Vozza Insurance Agency, our team is dedicated to helping those in and around Traverse City navigate their annuity options. We take the time to understand your retirement goals, explain your options and recommend solutions tailored to your needs.

Contact us today to get started.