One of our goals here at ABB Wealth Strategies is to help you develop a retirement plan that allows you to be comfortable. We understand that everyone’s finances are unique; employment, family size, income, and retirement goals (to name a few) all will determine when you retire and what should be your ideal retirement income. Therefore, we can help you identify the best annuities in Oakland County to meet your financial necessities after retirement.

Using a calculator to determine value of an annuity.

Why Choose Annuities?

Annuities are recurring or lump sum payments that result from a contract between an insurance company and an individual. Essentially, you make payments to an insurance company in exchange for payments in return at a later date. This retirement option is designed to protect you from outliving your income or not having a reliable income due to a downturn in the stock market.

One of the most appealing elements of the best annuities in Oakland County is that there are several types, making annuities a very accessible option regardless of your financial status or retirement goals. The three most common types of annuities are:

Fixed Annuities

Fixed annuities are some of the simples and most secure annuity options. In this scenario, when you make an investment, an insurance company sets a fixed interest rate for a certain number of years.

Once your contract is completed, you may annuitize, renew, or transfer your capital into a different contract. The fixed interest rate helps you determine the exact amount of your monthly payments, so you can always plan ahead.

Fixed Index Annuities

Fixed index annuities allow you to get the best of both worlds from the stock market. This is because this type of annuity is designed to enable you to increase your gains during rises in the market while protecting you from significant losses.

Rather than using your capital directly on stock, the insurance company tracks market performance and uses that to determine your earnings.

Variable Annuity

This option for best annuities in Oakland County gives you the most comprehensive range of outcomes. This is because although it offers a higher upside by investing directly into the market, you are also subject to downturns. You will still be guaranteed income, but the amount will be dependent on the stock market performance.

Who Can Help Me Choose the Best Annuities in Oakland County?

Choosing the right annuity can be a complicated process that requires you to consider your financial situation and scrutinize your retirement goals. For this reason, hiring a professional is the best option to ensure optimal results. When it comes to any financial matter, it’s best to trust a fiduciary, as they are legally obligated to do what is in the client’s best interest.

Want to Learn More About Annuities?

You know you’ve found the right place when “annuities” is in the name. At ABB Wealth Strategies, we use our decades of experience to match our clients with the best annuities in Oakland County for their retirement journey. Give us a call today to schedule an appointment!