RetirementWhat is a QLAC?

Running out of money in retirement is a common fear among pre-retirees and retirees. With longer life expectancies and rising healthcare costs, funding a retirement that could last many years can be an overwhelming prospect.

A qualifying longevity annuity contract, or QLAC, can help alleviate this concern by providing a guaranteed stream of income in retirement.

A QLAC is a type of fixed income annuity that is held in a retirement account such as an IRA. While QLACs can be a great option,  they also come with certain rules you will want to consider.

To find out whether or not a QLAC could fit into your retirement plan, click here to download “Examining Qualifying Longevity Annuity Contracts in 5 Easy Steps.

For more information on retirement income planning options, contact our office at (425) 252-4032 to schedule a time for a visit.

 

 

This material is for general information only and is not intended to provide specific advice or recommendations for any individual. There is no assurance that the views or strategies discussed are suitable for all investors or will yield positive outcomes. Investing involves risks including possible loss of principal.

Indexes are unmanaged statistical composites and cannot be invested into directly. Index performance is not indicative of the performance of any investment and do not reflect fees, expenses, or sales charges. All performance referenced is historical and is no guarantee of future results.

Fixed annuities are long-term investment vehicles designed for retirement purposes. Gains from tax-deferred investments are taxable as ordinary income upon withdrawal.  Guarantees are based on the claims-paying ability of the issuing company. Withdrawals made prior to age 59 ½ are subject to a 10% IRS penalty tax.
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