
- Maximize Social Security: Purchase an immediate annuity to generate current retirement income while delaying claiming Social Security benefits. This strategy can help you qualify for and maximize the partially inflation-adjusted monthly benefit payment.
- Tax-Deferred Accumulation: Use a deferred annuity for tax-deferred accumulation. Annuity earnings remain untaxed until withdrawals occur, or you start taking regular distributions.
- Fund Essential Living Expenses: Purchase an income annuity or leverage the income options of a deferred annuity to cover essential living expenses in retirement. This approach can free up other assets for potential investment in higher-yield or inflation-offsetting asset classes.
- Create Protected Income: Transfer funds from a 401(k) or other qualified retirement savings plan to an annuity product. Utilize annuitization or optional income riders to convert accumulated funds into a protected, guaranteed income stream.
- Segment Your Retirement Funds: Implement a multi-bucket approach to managing retirement funds. Allocate resources to income annuities for immediate needs, secure future income with a deferred fixed or variable annuity and use the income options of another deferred annuity to meet mandatory minimum distribution requirements.
- Lifetime Income Stream: Exchange surplus cash value from an unnecessary permanent life insurance policy for an annuity product using a tax-free exchange.
- Supplement Retirement Income: Use annuitization and optional income riders of annuity products to establish a secure flow of supplementary retirement income.
- Income Planning for Small Businesses: Utilize income options from a deferred annuity to establish a lasting income stream for small, qualified plans. Consider integrating the annuity as a financial tool within the qualified plan to optimize financial outcomes.
If you’d like explore these strategies further and determine their suitability for your retirement plan, give us a call at (336) 391-3409.