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The world of investing can be a complicated place. With so many options available, it's easy to feel like you've bitten off more than you can chew.
At Kelly Capital Partners, we're here to help you get started on your financial journey. We know that saving for retirement is a daunting task, but it doesn't have to be a complicated one. Fixed Index Annuities are a great way to diversify your financial portfolio and prepare yourself for the future.
Let's take a closer look at what they are and how they work.
Fixed Index Annuities are a type of annuity that offers you the opportunity to invest in both a fixed interest rate and an index, like the S&P 500. This means you can get the best of both worlds when it comes to your investment strategy: access to growth potential and protection from stock market loss.
Here's how they work: You enter into a contract with an insurance company. You pay them a set amount, and they invest that money into bonds, stocks, and other types of investments. Once the term of the contract expires, you can either get your initial investment back or continue to receive regular payments from the insurance company, which has grown your original investment through their investing strategy.
Are you looking to grow your money at a fixed rate that doesn't fluctuate with the market? A Fixed Indexed Annuity might be the investment you've been looking for. Here is an overview of the benefits.
So, you've decided to purchase an annuity. You're probably excited to see your income grow. Before you get too far in the process, there are a few things you should know.
The first thing to look at is the insurance company behind the guaranteed rate of return. You want an "A-Rated" insurer who has been in business for a long time and is considered extremely stable. This will give you confidence that they have the financial strength to back up the guarantees they've made.
Annuities are long-term investment vehicles that typically come with limited liquidity, so it's important to look at the terms of any contract before signing on the dotted line. There are usually limited withdrawal options available; however, many annuities allow 10% penalty-free annual withdrawals after the first "surrender charge" period (usually 7 to 10 years).
Annuity investors want to know their retirement funds are safe, and that they're getting a good rate of return/growth. There are three main types of annuities: fixed, variable, and fixed index income.
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