What is a Select Fixed Annuity?
When it comes to retirement savings, financial experts agree that it’s prudent to have a portion of your money in a guaranteed vehicle. The Select Fixed Annuity from Northwestern Mutual is a guaranteed way to help you accumulate funds for your retirement. Purchased with a one-time lump-sum payment, it offers consistent, tax-deferred growth with guaranteed principal and guaranteed interest rate options. When it’s time to take distributions in retirement, fixed annuities can provide a stream of income that you can’t outlive.
Northwestern Mutual offers three types of Select fixed annuities to best suit your retirement time horizon and the interest rate environment:
- Select Platinum offers a one-year guaranteed interest rate period and a relatively stable interest rate for the first eight years.
- Select Gold provides a one- or three-year guaranteed interest rate and follows interest rate trends upon renewal.
- Select Silver has an initial five-year guaranteed interest rate at issue with guarantee periods between one and five years after that.
Is a Select Fixed Annuity right for you?
This fixed annuity may be right for you if you:
- Have contributed the maximum allowed to your 401(k), 403(b) or IRA and would like a tax-deferred savings plan.
- Would like to grow your future retirement savings with a guaranteed rate of return.
- Are seeking an alternative to the stock market that offers a competitive, fixed rate. (Investment professionals generally recommend that you allocate more of your portfolio to low-risk holdings as you approach retirement age.)
- Would like the chance to pass on the balance, along with its tax-deferred growth, to a beneficiary upon your death.
- Want the opportunity to convert some of your retirement savings to a guaranteed retirement income stream that you can’t outlive.
- Are looking to create a guaranteed and predictable income stream with a one-time payment from an available qualified or non-qualified fund such as:
- A 401(k), 403(b), IRA or Roth IRA
- A savings account or certificate of deposit
- Investment accounts
- An inheritance or legal settlement
- The sale of a business or property
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