Fixed Index Annuities in Metairie
You have a long life in front of you, including lots of time after you retire. It’s vital to start formulating a plan for the future now, because financial security is a imperative if you’re going to enjoy your long life after retirement. One solution that can help achieve this goal is a fixed index annuity.
Talk to the financial advisors at Gregory Ricks & Associates to learn more about fixed index annuities. We help families to secure their future in the communities of Metairie.
What Are Fixed Index Annuities?
Annuities are similar to other retirement investments and share the goal of long-term financial security for you and your family. But they possess a few unique characteristics.
Before we get into fixed index annuities, let’s talk about annuities in general. They are available in four basic types: immediate, fixed, variable, and fixed index annuity. They all share certain characteristics. Annuities operate as a contract between a financial institution and an individual. The individual agrees to pay a premium, which the financial institution will return (with interest) in a lump sum or as incremental payments. All money placed into an annuity is tax-deferred.
But what separates fixed index annuities from other investments? Fixed index annuities are tied to a specific financial index, e.g. Nasdaq. This annuity is in the middle of the road with risk and offers the possibility for a higher rate of return. Most kinds of investments pay back the premium and a small amount of interest. Fixed index annuities have the potential to earn a higher, market-linked interest rate with minimized exposure to risks associated with the stock market.
Call Gregory Ricks & Associates to Learn More
When you are ready to learn more about fixed index annuities, please contact our office in Metairie to arrange a consultation.