It is America’s dirty little secret: we are spenders, not savers.
Everyday the headlines tell us more than half of Americans wish they had started saving for retirement earlier. In reality, even those who are saving probably are not saving enough. Plus the safety net of the traditional employer-sponsored pension plan is being cut back if not eliminated. If all this were not enough, there is the sub-prime lending crisis, falling housing prices, the stock market roller coaster, and the declining dollar. What is a saver to do? This is where your Navy Mutual membership can reap huge dividends – literally.
How We Can Help
For 130 years Navy Mutual has been protecting the families of our sea service men and women from the specter of financial ruin that a death can cause. We are dedicated to using our expertise to help Members save before and after retirement. Fixed deferred annuities from Navy Mutual can be a valuable addition to your portfolio or a simple way to save for the future. A fixed annuity is an interest paying contract. A deferred annuity allows you to accumulate interest while deferring taxation.
A deferred annuity from Navy Mutual may be right for you if any of the following statements are true:
- I would like to earn a competitive rate of return but not sacrifice the safety of my investment principal.
- I would like to defer taxes on my savings until after retirement when I will likely be in a lower tax bracket.
- I want my assets to avoid probate and immediately be available to my heirs upon my death and I want to protect them from a large tax burden.
- I want access to my money at anytime, without fear of paying a penalty out of my principal.
- I want my savings to provide me with a stream of retirement income that I cannot outlive.
Better Rates of Return
A deferred annuity from Navy Mutual will give you all of the above and more. Due to our nonprofit status, we offer a higher rate of return than other safe investments such as CD’s or money market accounts. When you add in the tax deferral benefit, that rate of return is even better. This means you will not only earn interest on your deposit, you will earn interest on your interest and interest on money you would have used to pay taxes!
Compare Navy Mutual’s Deferred Annuities To Other Low-Risk Financial Products
As you can see, a deferred annuity from Navy Mutual has a big advantage over any other low-risk financial product. Because an annuity is a contract subject to the claims paying ability of the company, the company’s financial strength is an important consideration. Navy Mutual has a 130 year old history of financial strength and integrity. Our A+ financial rating from Fitch Ratings independently affirms this for you. In times of peace and war, bull markets and bear, Navy Mutual demonstrated the ability to be there for our members when they need us most.
Wait, There’s More!
As long as you keep your beneficiary designations up to date, the funds in the annuity will bypass probate and be available to your heirs. Navy Mutual has several options to help your beneficiaries avoid a large taxable event. Navy Mutual also offers free withdrawals at anytime with no waiting periods to access your money. A Navy Mutual immediate annuity offers guaranteed income for retirement. At anytime you can “annuitize” the contract and receive an income stream guaranteed for life, a certain period of time, or both!
Navy Mutual offers two deferred annuities products for you to choose from: the Single Premium Deferred Annuity and the Flexible Premium Retirement Annuity. Contact a Navy Mutual membership representative today at 800-628-6011 and let us help you find the plan which best fits for you own personal financial goals.
This article was written by www.military.com not HelpVet. View original article here: