The Surprising Way You Can Get Guaranteed Retirement Income For Life
by Greg Garrison
Retirement should be something you look forward to — a time to relax, spend time with family and enjoy your hobbies as a reward for decades of hard work. Unfortunately, for many Americans, retirement can be a time of stress and uncertainty.
One of the biggest fears among retirees? Outliving their savings. But what if there was a way to guarantee retirement income for life?
With an annuity, like the ParityFlex™ annuity, available on the Gainbridge® digital platform, you could earn a guaranteed annual paycheck for the rest of your life. It offers guaranteed returns of APY*.
How to Guarantee an Annual Paycheck — For Life
Maybe you’ve heard of annuities in the past — an annuity is a contract between you and an insurance company that provides a future payout, either as a lump-sum or in a series of payments. One of the biggest benefits? It removes the risk of retirees outliving their savings.
Another big benefit is that annuities may offer higher APYs than traditional savings accounts or certificates of deposit, and they’re more flexible. The ParityFlex™ annuity, available on the Gainbridge® platform, for example, offers guaranteed returns of APY* — more than 11 times the national average savings account rate, without the risk of the stock market.
With the ParityFlex™ annuity, a guaranteed lifetime withdrawal benefit is included free of charge. This allows you to receive a predetermined amount of retirement income for the rest of your life.
The amount received is based on the starting value of the account when making withdrawals begins, assuming certain conditions are met. This includes having an income start date that doesn’t occur before reaching a minimum age for a lifetime withdrawal percentage.
No one wants to run out of money in retirement. This is your chance to ensure that you’re financially stable for life — no matter how long yours is. See how much you could earn here.
Why It Matters — And How It Adds Up
Let’s take a look at the big picture. Interest rates tend to ebb and flow, but with the ParityFlex™ annuity, the interest rate is locked in for a seven-year guarantee period.
This lets you take advantage of a competitive interest rate for seven years. Compound interest adds up fast, so securing a higher interest rate now can quite literally pay off later.
Let’s look at an example: If you invest $20,000 at APY* for seven years, you’ll earn $8,580 in interest. Compare that to the national average interest rate on a savings account as of April 15, 2024, which is 0.46% APY, according to the FDIC.* If you invest $20,000 at 0.46% for seven years, you’d earn just $654.48 in interest*.
How about the stock market? Investing your money there can earn you major gains, but it also comes with the risk of major losses. If you’re looking for a more stable option to round out your retirement savings, an annuity could be a smart option for you.
The ParityFlex™ annuity, available through the Gainbridge® digital platform, allows you to grow your money while shielding it from market volatility.
The Bottom Line
Want to earn guaranteed retirement income for the rest of your life? It’s easy to get started earning APY* with a ParityFlex™ annuity available through the Gainbridge® digital platform. See how much you could earn for life.
*Annual Percentage Yield (APY) rates subject to change at any time, and the rate mentioned may no longer be current. Please visit gainbridge.io/parityflex for current rates, full product disclosures and disclaimer, and other important information. All guarantees are based on the claims-paying ability of the issuing insurance company. ParityFlex™, a multi-year guaranteed annuity, is issued by Gainbridge Life Insurance Company, Zionsville, Indiana.
GOBankingRates maintains editorial independence. While we may receive compensation from actions taken after clicking on links within our content, no content has been supplied by any advertiser prior to publication.
