Annuities & Retirement Income
Protect what you've saved from market loss — and turn it into income you can't outlive.
What is an annuity?
An annuity is a contract with an insurance company: you deposit money, it grows tax-deferred, and it can later be turned into guaranteed income — for a set number of years or for life. Annuities are used to protect retirement savings from market losses and to create a “personal pension.”
Types of annuities we help with
| Type | How it works | Best for |
|---|---|---|
| Fixed (MYGA) | Guaranteed interest rate for a set number of years | Savers who want a CD-like guarantee |
| Fixed indexed | Interest linked to a market index, with principal protected from index losses | Growth potential without market downside |
| Income annuity | Converts savings into guaranteed income, starting now or later | Retirees who want a paycheck for life |
Annuities for military retirees and veterans
Many veterans roll a Thrift Savings Plan (TSP) or 401(k) into an IRA after service. A portion placed in a fixed or fixed indexed annuity can protect it from market drops and, combined with a military pension, VA compensation and Social Security, help build a retirement income floor. We'll help you understand the trade-offs, including surrender periods and liquidity.
Annuities are long-term contracts with surrender charges for early withdrawals. Withdrawals are subject to income tax, and withdrawals before age 59½ may incur a 10% IRS penalty. Guarantees depend on the claims-paying ability of the issuing insurer. Annuities are not FDIC-insured. We do not provide tax or investment advice.
Frequently asked questions
Can I lose money in a fixed indexed annuity?
Your principal is protected from index losses, but surrender charges apply if you withdraw more than the free amount during the surrender period, and optional rider fees can reduce value.
Can I roll my TSP into an annuity?
Generally, yes — TSP funds can be rolled into an IRA, and an IRA can fund an annuity. Rules and tax implications vary; talk to a tax professional before moving retirement money.
How is an annuity different from life insurance?
Life insurance protects your family if you die too soon. An annuity protects you from outliving your money. Many retirement plans use both.
Ready to protect your family's future?
Get a free, no-obligation consultation with a licensed, veteran-led team.