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Retirement Options
Planning for retirement is a crucial step in securing your financial future, and at LSS Financial Group, we're here to help you every step of the way. Our retirement options are designed to provide you with peace of mind and financial stability during your golden years.
Options
Annuities
Individual Retirement Accounts (IRAs)
Annuities provide a steady income stream during retirement. We offer a variety of annuity options, including fixed, variable, and indexed annuities. Our team will help you choose the right annuity to ensure a reliable income throughout your retirement.
Individual Retirement Accounts (IRAs)
Individual Retirement Accounts (IRAs)
IRAs are a popular choice for retirement savings. We offer Traditional IRAs and Roth IRAs, each with unique tax advantages. Traditional IRAs allow for tax-deductible contributions, while Roth IRAs offer tax-free withdrawals in retirement. Our team can help you decide which option best suits your financial goals.
Retirement Income Planning
Retirement Income Planning
Our comprehensive retirement income planning services help you create a strategy to ensure your savings last throughout your retirement. We consider all sources of income, including savings and investments, to develop a plan tailored to your needs.
Annuity: Fixed Indexed Annuity, Multi-year Guaranteed Annuity
Fixed Indexed Annuity (FIA)
A Fixed Indexed Annuity (FIA) is a financial product that combines the security of a fixed annuity with the growth potential linked to a market index, like the S&P 500. Key features include:
- Principal Protection: Your initial investment is safeguarded against market downturns.
- Growth Potential: Earnings are tied to the performance of a market index, offering the chance for higher returns.
- Tax-Deferred Growth: Your earnings grow without being taxed until you withdraw them.
- Income Options: FIAs can provide a reliable income stream during retirement, with options for lifetime payouts.
- Caps and Participation Rates: There may be limits on the interest you can earn and a percentage of the index’s gain that you can receive.
Multi-Year Guaranteed Annuity (MYGA)
A Multi-Year Guaranteed Annuity (MYGA) is a type of fixed annuity that offers a guaranteed interest rate for a set period, typically between three to ten years.
Key features include:
- Guaranteed Interest Rate: You receive a fixed interest rate for the term, ensuring predictable growth.
- Tax-Deferred Growth: Like other annuities, MYGAs allow your earnings to grow tax-deferred until withdrawal.
- Single Premium Payment: MYGAs are usually funded with a one-time lump-sum payment.
- Withdrawal Options: Some MYGAs permit partial withdrawals without penalties, though early withdrawals may incur charges.
- Retirement Income: MYGAs are often used to provide a stable income stream during retirement.
