If you're approaching retirement or already retired in Palm Beach County, market ups and downs can make it hard to feel confident about your income plan. Fixed and fixed indexed annuities may help protect a portion of your savings, create income potential, and bring more predictability to the years ahead. Garry helps local retirees understand their options and decide whether an annuity fits their bigger picture.
An annuity is a retirement product offered by an insurance company. Depending on the type, it may help provide protected growth potential, future income, or a death benefit for your beneficiaries. Annuities aren't right for everyone, and they aren't a substitute for keeping money accessible for everyday needs. That's why Garry reviews whether an annuity may be appropriate based on your age, assets, risk tolerance, time horizon, and income goals — before recommending anything.
An annuity review may be worth a conversation if you're:
For some retirees, a fixed or fixed indexed annuity may help address concerns such as:
In some cases, annuities may come up as part of broader asset-protection or estate-planning conversations. Because laws and rules vary by situation and change over time, this should always be reviewed carefully with the appropriate licensed professionals, such as an attorney or tax advisor.
Depending on the product and contract you choose, an annuity may offer:
Guarantees and protected features are subject to the contract terms and the claims-paying ability of the issuing insurance company. Specific benefits vary by product and carrier.
There are several kinds of annuities, but two are most relevant for retirees focused on stability and income:
There are other annuity types as well. Garry helps you understand which type — if any — may be appropriate for your situation, rather than assuming one product fits everyone.
Fixed and fixed indexed annuities are designed differently from investing directly in the stock market. The level of market exposure depends on the specific product and contract, which is something Garry can walk you through.
Some annuities offer income options designed to provide income for life, depending on the contract and the riders you select. Whether that's right for you depends on your overall plan.
Not always — that's a common misconception. Some annuities include withdrawal provisions, but liquidity rules, surrender charges, and limits vary by contract. Garry reviews these details with you so there are no surprises.
Not necessarily. Some options may start around $25,000, depending on the carrier and product.
Some annuities include death benefit features or income riders that may provide benefits before, during, or after payouts, depending on the contract. This is often part of legacy planning conversations.
No. An annuity should be reviewed in the context of your full financial picture — your liquidity needs, age, assets, time horizon, and goals. If it isn't a good fit, Garry will tell you.
Garry follows a clear, no-pressure process before ever recommending a product:
1. Risk assessment — understanding how much market movement you're comfortable with.
2. Time horizon review — when you'll need the money and for how long.
3. Liquidity needs review — making sure enough stays accessible for everyday life.
4. Total asset calculation — looking at the full picture, not just one account.
5. Age and retirement-stage review — where you are in your journey.
6. Suitability discussion — an honest conversation about fit.
7. Product comparison — reviewing options across carriers.
8. A recommendation only if it's appropriate — and not before.
As part of the review, Garry considers how much of your total assets should remain liquid and accessible. In many cases, an annuity should only represent a portion of an overall retirement plan — not the entire strategy. A common guideline is that annuity dollars shouldn't make up more than about half of your total assets, though the right amount depends on your individual situation.
Imagine a retiree with a portion of savings exposed to the market who feels uneasy about the possibility of major losses during retirement. Garry can help review whether moving a portion of those funds into a fixed or fixed indexed annuity may provide more stability, income potential, and peace of mind — while keeping enough assets liquid for everyday needs.
This is a general illustration for educational purposes and does not reflect any specific client, account, or guaranteed result.
Garry can help you review your goals, risk tolerance, income needs, and liquidity concerns so you can make an informed decision. There's no obligation — just a clear, honest conversation about your retirement.
This page is for general educational purposes only and is not financial, tax, or legal advice. Annuities are insurance products and are not bank deposits or FDIC insured. Product features, availability, rates, caps, and guarantees vary by carrier and contract and are subject to the claims-paying ability of the issuing insurance company. Any guarantees described are subject to contract terms. Whether an annuity is appropriate depends on your individual financial situation. Please consult Garry and, where relevant, your tax or legal advisor before making a decision.
