Annuities and Retirement Income in Chandler, AZ

What to know before you choose

Annuities come in a few shapes. An immediate annuity starts paying soon after you buy it. A deferred annuity grows first and pays later, usually in retirement. A fixed annuity credits a rate of interest set by the insurance company with a guaranteed minimum. A fixed indexed annuity credits interest based in part on a market index, with limits on how much can be credited and protection from index losses. Variable annuities invest in sub-accounts and are securities regulated by the SEC. Guarantees are based on the claims-paying ability of the issuing company.

Annuities also have rules worth knowing up front. Most have surrender charges if you take out more than a set amount in the early years. Earnings grow tax deferred, but withdrawals are taxed as income, and taking money before age 59 and a half can trigger a 10% federal tax penalty. Optional income riders can add guarantees for a fee.

That is why Viola begins with a retirement income picture, not a product. What will Social Security pay you, and when should you claim? What pension or savings do you have? Which expenses must be covered no matter what? An annuity can make sense for the portion of your budget that needs a guaranteed floor. It rarely makes sense for money you may need soon.

She also connects the pieces most people plan separately: when to start Medicare and what it will cost, how a large withdrawal could raise your Medicare premiums through IRMAA, and whether long-term care protection belongs in the plan. She is not a tax or investment advisor and will tell you when a question belongs with your accountant or financial planner.

Nothing here is rushed. You get illustrations to take home, plain explanations of surrender periods and fees, and time to decide. After you buy, she reviews the contract with you each year.

How Viola helps

• A retirement income picture first: Social Security, pensions, savings and must-pay bills
• Immediate, deferred, fixed and fixed indexed annuities explained in plain English
• Surrender charges, fees and withdrawal rules shown before you sign
• Income riders compared when lifetime income is the goal
• Medicare timing and IRMAA considered alongside income decisions
• Annual contract reviews after you buy

Who it fits

You are within about ten years of retirement or already retired, you worry about running out of money, and you would like part of your savings to provide steady income you can count on.