Nearing your golden years tends to make you review your retirement plans to ensure they provide lifelong financial stability. You may feel like the task is daunting and overwhelming but there are a wide range of solutions available. One viable strategy that many use as a common solution is to invest in annuities. It’s an easy and reliable way to create a steady income stream for your retirement years. The Overstreet Agency is your go-to source for annuities in Jackson, Mississippi. We’re here to break down what annuities are, how they work and why they should be an important part of your financial plan.  

Annuities Company in Jackson, MS

 If you’re not familiar with annuities, let’s explore the concept together. Boiled down, an annuity is a financial product that allows you to invest money over a specified period of time.  In return, you’ll receive guaranteed income payments over a specified period of time during your retirement, or for the rest of your life, depending on the structure of annuities you have selected. Annuities are used often as a predictable, long-term income solution in retirement planning. The Overstreet Agency in Jackson, MS has a wide range of retirement planning solutions. An Overstreet annuity, backed by Ameritas, is just one of our financial products that you can rely on to keep you fiscally stable during your beautiful golden years. 

Types of Annuities

The Overstreet Agency offers a few different types of annuities. They each have their own benefits and which you select will depend largely on your individual financial situation and comfort level with risk versus reward. 

• Fixed annuities: Fixed annuities in Jackson, MS are ideal if you are seeking a low-risk, stable financial option. Fixed annuities offer guaranteed interest rates and predictable payments over the payout period. 
• Variable annuities: Variable annuities are better for you if you are comfortable with the risks associated with market fluctuations. With a variable annuity, your payment will fluctuate based on your investment portfolio’s performance.
• Indexed annuities: This form of an annuity is tied to a stock market index, and while it is highly variable, it does have protection built in against market downturns. It is a good option if you prefer to potentially gain higher rewards while still managing risks.

What are the Benefits of Annuities?

Annuities offer incredible benefits in retirement planning. As a guaranteed income product, annuities protect you from living beyond your savings. As a tax-deferred retirement planning option, your investment grows without taxation while you are saving. Plus, there are various payout options –  you can select from a lump sum, lifetime payments, or payments for a fixed period of time. 

Is an Annuity Right for Me?

Annuities are a fantastic option if you want a steady income in retirement. This is especially true if you have maxed out on other retirement savings like IRAs or 401(k)s. Yet it is important to remember that there are various types of annuities and that some may be more fitting for your retirement than others. The best decision is to seek experienced guidance when exploring your options. To learn more about annuities and discover which type of annuity may be ideal for your retirement, contact our experienced annuities advisors in Jackson, MS at The Overstreet Agency. We’re here to provide the peace of mind you deserve!