Annuities protect you by providing guaranteed income and cash flow which lasts as long as you are alive. If life insurance protects you against the risk of not living long enough, annuities are the opposite and protect you against the risk of living longer than expected and help make sure you do not run out of cash.
Did you know annuities are also useful from a tax planning perspective? The money you invest into an annuity grows tax-deferred. That means you can increase your future cash flow more than you could otherwise. Better yet, under the current rules, annuities are not subject to the same contribution limits that affect IRAs, which gives you the ability to put more money into this strategy to help make sure you will not run out of cash.
Just like any other product or service, one size does not fit all. If adding annuities to your portfolio makes sense, Stefan Whitwell will look at different annuity providers to find the one which works best for you and design it in a way that directly ties into your goals and objectives.