Annuities for Other Situations
Kelly Ramsdale & Associates offers Single Premium Deferred Annuities (SPDA) that can be purchased with cash you have on hand, monies in qualified retirement accounts (401Ks, IRAs, etc.), inheritance, or other sources. These annuities make sense when a future guaranteed income stream is needed but you don’t need the income payments to start within a year.
In very simple terms, a SPDA is where you trade a sum of money today, for future payments over time, in most cases, a lifetime.
SPDAs offer a fixed rate of return, and there are no on-going investment management fees or expenses. They provide a guaranteed stream of income for the term of the annuity contract.
Contracts can be written for one person, or as joint and survivor (for married couples, as long as either is living), but also allow the owner to provide for beneficiaries.
Periodic payments from a SPDA start any time later than 13 months after purchase, and payment frequency can be scheduled to meet individual income needs, such as monthly, quarterly, semi-annually, or annually.
Call us to learn more about which type of annuity might be appropriate for your situation!