Variable Annuities - Saving for the Future
While an employer-sponsored 401(k) plan or an individual retirement account (IRA) may encourage people to save for retirement, there are limits to how much you can contribute yearly to those plans. If you believe that won’t be enough for your retirement, consider another alternative – variable annuities.
Advantages to variable annuities include:
- No contribution limits
- An income stream now or in the future
- Tax-deferred earnings for retirement
- Guaranteed death benefit.
You choose where to invest your contributions, such as in stocks and bonds and these types of annuities allows for diversification within the different types of investments. Although the risk factor is greater for variable annuities, the earning potential is greater than with fixed annuities. Variable annuities could be a good source of retirement income because they have the ability to outpace inflation.
This is where professional expertise can be incredibly valuable. A good financial advisor understands each individual’s unique situation and will really listen and help guide you through investing in variable annuities and provide sound advice based upon your concerns.
XCEL FCU is a credit union serving members in New Jersey, New York and across the country.
We are licensed in the following states. If you are a legal resident of one of these states, please proceed. We are sorry if we are unable to offer you our services at this time.
- Securities: New Jersey, New York
Lincoln Financial Advisors and its registered representatives do not give legal or tax advice. Roy Schoenfeld is a registered representative of Lincoln Financial Advisors Corp. Securities and investment advisory services offered through Lincoln Financial Advisors Corp., a broker-dealer (Member SIPC) and registered investment advisor. Insurance offered through Lincoln affiliates and other fine companies. Lincoln Financial Advisors has formed a strategic alliance with XCEL Federal Credit Union. XCEL Federal Credit Union is not affiliate of Lincoln Financial Advisors Corp. While the two firms will work together to provide you with the best service possible, each firm is independently responsible for the services offered.
Non-deposit investment products and services are offered through Lincoln Financial Advisors, a registered broker-dealer (Member FINRA / SIPC) and SEC Registered Investment Advisor. Products offered through Lincoln Financial Advisors are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the XCEL Federal Credit Union, and may involve investment risk including possible loss of principal.
- Insurance: Connecticut, New Jersey, New York, Pennsylvania
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- Lincoln Financial Advisors and its representatives do not offer tax or legal advice. Individuals should consult their tax or legal professionals regarding their specific circumstances.