Explore commonly held beliefs about saving for retirement that may be sabotaging the financial futures of many people.
- I am still young. I can wait another few years before I start saving.
- Investing is too complicated and time-consuming.
- My portfolio will grow if I invest in proven "winners."
- I don't need a retirement plan because my successful business will fund all of my retirement needs.
- I'm about to retire. I need to move all my investment into CDs and bonds.
- I can't retire when I plan to because my retirement income is in jeopardy.
- I "max out" the contributions to my 401(k), so I'm all set for retirement.
- When I retire, I'll just sell all my assets and collect the money. The order in which I do it doesn't matter.
Complete the form below to download our guide dispelling these myths.
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A group variable annuity is a long-term financial product designed for retirement purposes. In essence, a group variable annuity is a contractual agreement in which payment(s) are made to an insurance company on behalf of retirement plan participants, which agrees to payout an income or a lump sum amount at a later date to those participants. There are contract limitations and fees and charges associated with group variable annuities, which include, but are not limited to administrative fees and charges for investment management. Amounts in the annuity's variable investment options are subject to fluctuation in value and market risk, including loss of principal. Withdrawals from annuities are subject to an additional 10% federal income tax penalty. Withdrawals may also be subject to a contractual withdrawal charge. Contact a Retirement Program Specialist for costs and complete details. An annuity contract that is purchased to fund a retirement plan should be done so for the annuity's features and benefits other than tax deferral. For such cases, tax deferral is not an additional benefit. You may also want to consider the relative features, benefits, and costs of this annuity with any other investment that you may have in connection with your retirement plan or arrangement.
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