As a certified financial planner and insurance broker for more than four decades, John Savadjian has the knowledge and industry experience to help his clients plan for their retirements while enjoying the fruits of their labor along the way. His goal is always to develop long-term relationships with his clients, so he can help them change and adjust their plans as they enter different stages of their lives.
During his time in the financial services industry, John has helped all types of clients achieve their goals by taking advantage of the right financial products for their situation. Whether it is a structured plan for their portfolio, insurance for their home or business, or estate planning, John Savadjian always keeps his clients’ best interests in mind.
Annuities are one of the many financial products that John has helped procure for his clients over the years. While every client has distinct needs and goals, annuities can be a great investment for someone who wants a reliable income stream in retirement.
An annuity is basically a contract between a person and an insurance company. After someone invests money either up front or in payments over time, the insurer then agrees to pay them a regular income in return for their investment.
Immediate or Deferred
Investors can choose an immediate annuity, which begins almost as soon as the paperwork is finished. Or they can opt for a deferred annuity, which will start at some point down the road. Many of John Savadjian’s clients choose deferred annuities to help fund their retirements.
Annuities can be paid out in different ways. They can either pay income for set number of years, such as 10- or 20-year annuity. Or they can pay out as long as the annuity owner lives. If the owner dies with money in the account, it normally remains with the insurance company. If the owner lives for a very long time, however, the insurance company is still on the hook for those regular payments.
Fixed or Variable
With a fixed annuity, an insurance company pays a predetermined rate of return on the investor’s money. On the other hand, a variable annuity involves the insurance company investing the money in a basket of mutual funds selected by the investor. But the rate of return for this annuity will vary based on the performance of those funds.
Throughout his long career, John Savadjian has helped many of his clients choose the right annuity to help secure their retirement. His expertise is instrumental in finding the kind of highly-rated insurers that can guarantee this type of investment. In addition, his knowledge of insurance products is critical for clients that may want to adapt an annuity contract. For instance, some may want death benefits or a guaranteed minimum income benefit or a joint-life annuity.
Whatever your financial goals are, John Savadjian can help you choose the right annuity to take the uncertainty out of your plans and to make sure you are comfortable in your golden years.