Plan for the retirement you want
What do you need to retire with more confidence? Whenever you start to think about the future, there are a lot of questions and unknowns. But you don’t have to face them alone. Guardian can be with you, with people and products that help you achieve the financial well-being you want in retirement.
Annuities to create guaranteed income for retirement
An annuity is a contract with an insurance company that turns your contributions into a steady stream of retirement income. Based on your contract, you’re also able to determine the length of time during which you’ll receive payments (e.g., for your lifetime or a specific number of years).
Financial professionals to give you personal guidance
It’s natural to have questions about how to get where you want to be in retirement. We can put you in touch with a local financial professional who’ll be with you every step of the way.
An annuity provides a guaranteed stream of income, for a set period (such as 10 years), or for the rest of your life. That can be especially valuable if you’re concerned about running out of money in retirement.
Depending on the type of annuity you choose, your investment earnings may grow tax-deferred, meaning you don't have to pay taxes on them until you begin taking withdrawals.
Many annuities offer a guaranteed rate of return, so you don't have to worry about losing money if the stock market or other investments perform poorly.
Depending on the terms of your annuity contract, you may be able to leave any remaining funds to your beneficiaries when you die.
Annuities come in many different forms, allowing you to choose one that best fits your financial goals and risk tolerance.
Guaranteed income, so you can focus on the things that really matter.
Guardian offers a variety of annuities, and each can be tailored to your specific needs: immediate annuities that start distributing income after you provide a single, lump-sum payment; fixed annuities that give you a guaranteed rate of return as you contribute premiums, then guaranteed income payments when you retire; fixed index annuities that provide a minimum guaranteed interest rate combined with potential growth tied to a specific market index; registered index-linked annuities that offer growth potential for your retirement savings, while providing a level of protection during market downturns; and variable annuities that let you take advantage of the highs and lows of the financial market and allow you to earn tax-deferred savings until you’re ready to start receiving income.
The amount you contribute to your retirement depends on a variety of factors, including your current financial obligations and lifestyle, expected retirement expenses, and sources of income in retirement, such as a pension or Social Security. A general rule of thumb is to save at least 10% to 15% of your income for retirement, and if you can, more. The fact is, people are living longer, and it’s a good idea to have a nest egg big enough to cover 20 to 30 years in retirement.
You don’t have to choose one or the other. Both types of products have different advantages, and they can work together to help you save more money with tax benefits while you’re working, then get a steady income stream after you’re no longer getting a paycheck.
Yes, if you are interested in the benefits of annuities, such as guaranteed income, you can use qualified money, like pre-tax dollars that you may have in an IRA, to fund an annuity without creating a taxable event.
One thing to note is that both financial tools allow your money to grow tax-deferred — meaning you won’t pay taxes until you withdraw the money. So, if you’re already invested on a tax-deferred basis in an IRA, you don’t get extra tax benefits from putting that money in an annuity.
Your investment strategy should align with your financial goals and risk tolerance. It's generally recommended to diversify your investments across a variety of assets, such as stocks, bonds, and mutual funds. If you’re not sure how to do that, consider speaking with a financial professional to help you get started.
If you're self-employed, you may have additional savings options, such as individual 401(k) or SEP IRA retirement accounts. It's important to understand the rules and requirements of these accounts to maximize your savings potential.
It's never too early to start saving for retirement. The earlier you start, the more time your money has to grow, and compound. Take advantage of tax-advantaged savings vehicles, such as an IRA, annuity, or employer 401(k) plan because they can help savings grow faster.
Tax advantages
Depending on the type of IRA you choose, your contributions may be tax deductible, helping you save on taxes as you're paying in. Alternatively, with a Roth IRA, you contribute after-tax dollars, but your investment earnings grow tax-free, and qualified withdrawals in retirement are also tax-free.
Control over investments
With an IRA, you have control over how your money is invested, allowing you to choose investments that align with your financial goals and risk tolerance.
Flexibility
Unlike some employer-sponsored retirement plans, such as 401(k)s, IRAs are not tied to a specific employer, so you can continue to contribute to an IRA even if you change jobs.
Additional savings
If you've already maxed out your contributions to an employer-sponsored retirement plan, such as a 401(k), an IRA may be a great way to save even more for retirement.
There are three different types of IRAs: a traditional IRA with tax-deferred contributions and growth, but withdrawals are taxed when you retire; a Roth IRA that provides tax-free growth and withdrawals because it’s funded with after-tax dollars; and a rollover IRA that converts your retirement account with a former employer (or another IRA) into a retirement account that you control, while maintaining any tax advantages.
You don’t have to choose one or the other: annuities and IRAs can work together
For most people, annuities are an additional way to plan for retirement, along with a traditional or Roth IRA, 401(k), or other retirement investments. They can help simplify the task of turning a large nest egg into regular retirement income. And, by providing a lifetime guaranteed income stream, they can help make sure you don’t outlive your money. And you can use IRAs and annuities with other financial products, like whole life insurance, to help fund your retirement and build financial security for your family. A Guardian financial professional can help you explore all these options.
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Life insurance
If people depend on your income for support, what will happen to them if something happens to you? Life insurance can be a vital source of financial support.
Disability insurance
If you’re unable to work due to injury or medical condition, where will you get income to live on? Disability insurance can help support your family when it’s needed most.
Investments
A brokerage account is a simple way to manage your money and help your money grow through investments.
The information provided herein is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any federal tax penalties. This information supports the promotion and marketing of this annuity.
Since these are already afforded tax-deferred status. Thus, an annuity should only be purchased in an IRA or qualified plan if you value some of the other features of the annuity and are willing to incur any additional costs associated with the annuity to receive such benefits.
Current tax law is subject to interpretation and legislative change. Tax results and the appropriateness of any product for any specific taxpayer may vary depending on the particular set of facts and circumstances. Entities or persons distributing this information are not authorized to give tax or legal advice. Individuals are encouraged to seek specific advice from their personal tax or legal counsel.
Insurance products are offered through a licensed/registered bank or broker/dealer (financial institution), but underwritten by insurance companies. All guarantees mentioned on this site are guarantees of the insurance company and not guarantees of the financial institution.
Variable annuities are long-term investment vehicles that involve certain risks, including possible loss of the principal amount invested. The investment return and principal value may fluctuate so that the investment, when redeemed, may be worth more or less than the original cost. Withdrawals of taxable amounts will be subject to ordinary income tax and possible mandatory federal income tax withholding. If taken prior to age 59½, a 10% IRS penalty may also apply. Withdrawals affect the variable annuity’s death benefit, cash surrender value and any living benefit and may also be subject to a contingent deferred sales charge.
Variable annuities and their underlying variable investment options are sold by prospectus only. Prospectuses contain important information, including fees and expenses. Please read the prospectus carefully before investing or sending money. You should consider the investment objectives, risks, fees and charges of the investment company carefully before investing. Please contact your investment professional or call 800.221.3253 for a prospectus, which contains this and other important information. To download a contract or fund prospectus, please click here.
Annuity guarantees are backed exclusively by the strength and claims-paying ability of The Guardian Insurance & Annuity Company, Inc. (GIAC) and are issued by The Guardian Insurance & Annuity Company, Inc. (GIAC), a Delaware corporation. Individual variable annuities are distributed by Park Avenue Securities LLC (PAS). GIAC is a wholly owned subsidiary of The Guardian Life Insurance Company of America (Guardian). PAS is a wholly owned subsidiary of Guardian. Guardian, GIAC, and PAS are located at 10 Hudson Yards NY, NY 10001. Contract provisions and investment options vary by state.
All investments contain risk and may lose value. Diversification does not guarantee profit or protect against market loss.
Securities products and advisory services offered through Park Avenue Securities LLC (PAS), a registered broker-dealer and investment adviser. PAS is a wholly owned subsidiary of Guardian and a member FINRA, SIPC.
Park Avenue Securities Annuity Disclosures: https://www.parkavenuesecurities.com/legal/annuities-disclosure