WIA offers various annuity products used to build retirement savings without any market risk of loss
One of the common products we use are fixed income annuities. These products offer a fixed rate of return for a specified period of time – when the product matures, you receive your principal back with the stated interest. These products typically offer an interest rate significantly higher than Bank CD’s and allow you to annually receive a percentage of your money before the term ends without penalty as well as your RMD withdrawals without penalty.
Other annuity products offered are indexed annuities. Our clients use these products to generate an additional monthly stream of income over the life of their retirement years. We also use annuity products where the annual gain on the account is based off the percentage gain in the stock market. However in down stock market years, these products will never reduce the amount in the account – so a way to enjoy stock market gains without taking the risk of market loss.
Medicaid Compliant Annuities:
This is a special financial product allowing a couple to exempt assets from Medicaid when one spouse enters Title 19 and the other does not. Money invested in this product will be exempt from Medicaid capture and provide an additional income for the spouse not entering Medicaid. We will work with your elder care attorney to select the correct financial product and ensure the paperwork is done correctly.
