Emily: Hey Maggie, I’ve been hearing about different types of annuities. Can you explain what a fixed annuity is?

Maggie: Absolutely, Emily! A fixed annuity is a type of insurance product that guarantees you a fixed interest rate on your contributions. This means you’ll receive a predictable and stable income stream in retirement.

Emily: That sounds safe. How does it work?

Maggie: You make either a lump-sum payment or a series of payments to the insurance company. In return, they promise to pay you a fixed amount of income, either immediately or at some point in the future. It’s a great option if you’re looking for steady, reliable income.

Emily: Is it risk-free?

Maggie: While it’s considered low-risk because the returns are guaranteed, keep in mind that the interest rate might not keep up with inflation over time. If you’re interested, I can help you understand more about fixed annuities and see if they fit into your retirement plan. Let’s schedule a time to discuss it.

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