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Metairie Fixed Index Annuities

As medical advancements have continued, people have started living longer and longer. Now, more than ever, it’s vital to start formulating a plan for the future, because financial security is a necessity if you are going to enjoy your long, post-retirement life. This can be achieved with the help of fixed index annuities.

If you want to learn more about fixed index annuities, meet with the financial advisors at Gregory Ricks & Associates. We help individuals with securing their future in the communities of Metairie.

What Are Fixed Index Annuities?

There are differences, both large and small, between fixed index annuities and other investments for retirement. But in the end, they have the same goal: to ensure financial security for you and/or your family.

Before we describe fixed index annuities, let’s talk about the basics of annuities. Basically, there are four types of annuities: fixed, variable, immediate, and fixed index. They all share certain commonalities. All annuities are a contract between a financial institution and an individual. The person pays a premium that will, at a predetermined date, be returned back to the individual in a lump sum or as incremental payments. All money placed into an annuity is tax-deferred.

So what are fixed index annuities exactly? Fixed index annuities are linked to a financial index, e.g. the S&P 500. With a flexible interest rate, there is more inherent risk with this annuity, along with greater potential for higher return. Many investments can offer little more than to return your premium and a small amount of interest. On the other hand, fixed index annuities allow you to experience the benefits of a healthy interest rate without leaving you open to major stock market risks.

Call Gregory Ricks & Associates to Learn More

If you have any questions about fixed index annuities or you’d like to set up a personalized consultation, contact our office in Metairie.