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from the ask the planman podcast...
EP 005: Understanding Annuities w/Rich Montenegro

Stocks, annuities and risk/returns can all be confusing when it comes to our wealth. But it’s important to understand so you can make the most with what you have. Rich Montenegro joins Bruce to simplify these risk vs returns by telling you how to protect your principal.
EP 024: These are NOT your Father’s Annuities ft. Ryan Cicchelli

Today’s annuities are NOT your father’s annuities! How have the use of annuities changed over the last 40 years? We are speaking with “The Annuity Expert”, Ryan Cicchelli, who has personally invested 10’s of millions of his clients assets into annuities. Oh, did I mention Ryan is ONLY 32?! We are all discussing how to go from the accumulation stages of life to structuring for income distribution. Do you know where annuities fit in your portfolio?


Are you looking forward to a long and carefree retirement? If so, consider an income source with guarantees. Annuities are contracts you enter with an insurance company, designed to help grow your savings and ensure a steady stream of income during retirement. You make an initial investment (a lump-sum payment or a series of payments), and in return, the insurer promises to make payments back to you over a specified period. It's like setting up your personal pension.

If you are worried that you might outlive your income, it would be beneficial to consider an annuity. Annuities provide many benefits, including a guaranteed income that can last a lifetime, tax-deferred growth opportunities, and income protection. Your retirement dreams can become reality with sound financial advice and a bit of planning. Let Weinstein Wealth Insurance Solutions help you achieve a happy and worry-free retirement.

frequently asked questions about annuities

An annuity is a long-term contract that you purchase from an insurance company. In exchange, the insurance company makes regular payments to the buyer. These payments can be made in a single lump-sum, annually, quarterly, or monthly. Individuals with an annuity contract can choose to receive payments for the rest of their lives or for a set number of years.

Annuities were designed to help accumulate assets to provide a steady income for retirement. Annuities have the potential to grow tax-deferred and have death benefits to protect your beneficiary. When the money is withdrawn, the money contributed to the annuity will not be taxed, but the earnings will be taxed as regular income.

Unlike other retirement options like 401(k)s or IRAs, annuities provide a guaranteed income stream for a set period or for life, reducing the risk of outliving your savings.

There’s no one-size-fits-all answer. The right time depends on your financial situation, retirement goals, and risk tolerance. Generally, the earlier you start, the more time your investment has to grow.

Several factors come into play, such as the amount you invest, the agreed-upon interest rate, your life expectancy, and whether the annuity is for a set period or lifetime.

Yes, but withdrawals before the age of 59½ may incur penalties. Some annuities also have withdrawal charges if you withdraw beyond a certain amount in the initial years.

It depends on the type of annuity and the options you selected when you purchased it. Some annuities offer a death benefit, allowing your beneficiary to receive the remaining payments.

Annuities may come with various costs, such as administrative fees, mortality and expense risk charges, and surrender charges. Always understand the fees before purchasing an annuity.

Annuities are backed by the financial strength of the insurance company that issues them. While they’re generally safe, it’s crucial to choose a reputable insurer.

Annuities offer tax-deferred growth. You’ll pay income tax on the earnings when you receive payments.

Absolutely. Many people choose to diversify their retirement income by owning multiple annuities.

It depends on your financial situation, retirement goals, and risk tolerance. An annuity can be a powerful tool, but it’s not right for everyone.

You can buy an annuity from an insurance company or through a broker. Always ensure you fully understand the contract before purchasing.

Consult a trusted insurance and financial planning professional. They can explain the intricacies and guide you in making an informed decision.

Annuitization is the process of converting your saved money in an annuity into regular income payments. Once you decide to annuitize, the decision is usually permanent and you’ll receive these payments typically for the rest of your life.


There are several different types of annuities and it’s important to consult with a professional to determine which type is most appropriate for your situation. Depending on the type of annuity, you can either let your money accumulate for a period of time and then receive payments or you can use it now for immediate income needs.


This annuity type offers a unique blend of fixed and variable. Indexed annuities provide the opportunity for growth based on stock market performance, while also protecting against market declines. You get a minimum return guarantee (like a fixed annuity), but your earnings can increase if the market index the annuity is linked to performs well. These annuities yield returns on the contributions you make based on a specific equity-based index.


This is the most straightforward type. Here, you agree on a fixed interest rate with your insurer. This rate is then applied to your capital, resulting in a steady, predictable income. Fixed annuities can provide regular periodic payments to the annuitant. They offer a guaranteed payout, typically a set dollar amount or set percentage of the assets. With fixed annuities, the principal investment and earnings are guaranteed and you may elect set payments for the term of the contract.


Immediate annuities are long-term, tax-deferred contracts that have no accumulation period. These annuities provide immediate payments in exchange for a lump-sum investment. Immediate annuities can either last for lifetime or for a specific period of time.


With variable annuities, your money is invested in a portfolio of sub-accounts, similar to mutual funds. Your return varies depending on how these investments perform.

Why choose annuities?

The most appealing feature of annuities is the income guarantee they provide. They ensure a reliable income stream during retirement, regardless of how long you live. Annuities also offer tax-deferred growth, meaning you won’t pay taxes on your earnings until you start receiving payments. This can be an effective way to augment your retirement savings.

If you are interested in learning more about annuities and how they could benefit your overall retirement income strategy, contact Weinstein Wealth Insurance Solutions today. We are here to help you make the best, most informed decision to protect your financial future. Call us today at 1-844-4WeCover.