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Annuities & IRA


IRA​
IRA is a type of an account to help most people save more for retirement. There are tax advantages for many people to have an IRA.​

There are three basic types of IRAs: Traditional, Roth and Rollover.

The Traditional IRA’s contributions are tax-deductible and the growth is tax-deferred. Taxes are paid when you start withdrawing money from the IRA.

A Roth IRA’s contribution are made with after-tax dollars. The growth inside the Roth is tax-free.

​Rollover IRAs are vehicles for you to rollover funds from a previous employers 401(k) plan or other retirement plan. This allows you to have more control over the type of investments you select inside the IRA.

There are also IRAs for small business owners, the self-employed and non-working people whose spouses contribute on their behalf.

Call us to learn the advantages of having an IRA and how you could possibly benefit by having an IRA. 

The Watts Insurance Agency


Annuity
Annuities simplify getting your money when you actually need it in retirement. They help you make sure you have a steady income during retirement even if the market is going down.

How does an annuity work? Well, you pay money to an insurance company and they invest it. Over a period of time, they will pay you back while giving you tax advantages. You will not have to pay taxes on any of the earnings until you start receiving money from the annuity. You decide how much you what to contribute, how much income you want to receive and how long you receive the income. Typically, the more you contribute and the shorter the payout period, the more your income payment will be.

There are several types of annuities: Fixed, Variable and Immediate. ​We would encourage you to contact us to set an appointment to learn more about annuities and how they can help you.

Get a quote or call our office today (205) 216-4960.