LYCOS RETRIEVER 
Annuities: Income
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Annuities offer the opportunity for tax-deferred growth and can help provide a retirement income that cannot be outlived (assumes single life or joint life settlement options). There are a variety of annuities, offering choices to fit your individual financial goals. Your Thrivent Financial representative can work with you to tailor strategies to fit with your financial goals.
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Immediate Annuities provide income for as long as you choose, including a lifetime income that you cannot outlive. With increasing life expectancies, immediate annuities are becoming a popular method of generating dependable income for retirement planning.
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Annuities can be immediate or deferred. A deferred annuity addresses both pre-retirement savings and post-retirement income needs. If a person is years away from retirement, or is retired and doesn't need income right away, a deferred annuity allows savings to accumulate tax deferred until payouts begin.
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A small number of providers have developed what have been termed “flexible annuities”. These plans combine a guaranteed taxable income for a limited period with the balance of pension funds remaining invested. Typically this works by your pension funds being transferred to a personal pension plan and the tax-free cash entitlement being paid out to you immediately. Some of the pension fund is then used to buy a 5-year annuity, with the balance remaining invested in the new pension plan. This process can then be repeated every five years.
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Annuities offer many unique benefits to help you meet your retirement goals: tax-deferred growth, no IRS contribution limits, and flexible withdrawals. Better still, it’s the only way to get a guaranteed income stream throughout your life.1
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Annuities can be a great way to defer taxes while saving for retirement. They can ... provide monthly income after you retire for as long as you live. Annuities are available through National City Insurance Group, Inc. a licensed insurance agency.
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