Broker Check

Where Relationships Matter

194 West Main Street

Cortland, Ohio 44410

Phone 330.984.0390

Annuities

Perhaps the biggest goal of a retirement plan is to ensure you have enough assets to last throughout retirement. Rather than take risks with investments, the focus is on wealth preservation and distribution.

One of the advantages of an annuity is that you can save a large amount of money and defer paying taxes. Fixed and Variable annuities are suitable for long-term investing, such as retirement investing. Gains from tax-deferred investments are taxable as ordinary income upon withdrawal. Guarantees are based on the claims paying ability of the issuing company. Withdrawals made prior to age 59 are subject to a 10% IRS penalty tax and surrender. Each year, the money you invest compounds tax-deferred. If you have saved up significant assets but are concerned with the volatility of your investments, certain annuities may offer an opportunity to protect against the downside while still benefiting from equity index gains.