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LIFESTYLE. Catered to your taste, our staff and amenities deliver a level of quality and service that
Our version of senior living upholds the standards of YOUR
will make you feel right at home. CALL 866-918-3436 TODAY!
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you can contribute to an annuity. There are no income restrictions and no tax deductions for contributions. Some annuities provide a version of a match contribution as enticement to buy one. The principal contribution amount is not taxed at withdrawal, but the gains are taxed at ordinary in- come tax rates. The annuity provider determines the investment options, and their costs can be high. You can purchase insurance protection op- tions that also come at a high cost. Check for surrender fees. These are very popular with
fi nancial fi rms because of the com- missions associated with the prod- uct. If you work with a fi nancial fi rm and they lead with an annuity, you have reason to question the working relationship — not be-
2200 ELM AVENUE, LAURINBURG, NC 28352
SCOTIAVILLAGE.ORG | (888) 726-8428 — A Presbyterian Homes, Inc. Community —
THE MOAA MILITARY AND VETERAN
NETWORKING FORUM* Hosted with the Smithsonian National
Air and Space Museum, Washington, D.C. T ursday, June 30, from 6:30 – 10 p.m.
* Invite only! To request an invitation, go to
www.moaa.org/networkingforum or email
career@moaa.org.
cause annuities are inherently bad; they are perfectly fi ne if you have a specifi c objective and an annuity provides the best option to achieve that objective. However, annuities wouldn’t usually be considered the fi rst, go-to option. Typically other, less expensive and more eff ective, methods are available to meet your fi nancial needs.
MO
— Lt. Col. Shane Ostrom, USAF (Ret), CFP®, is a fi nance and benefi ts ex- pert in MOAA’s Transition Center. His last feature article for Military Offi cer was “11 Investing Lessons,” December 2015.
78 MILITARY OFFICER MARCH 2016 PHOTO: SHUTTERSTOCK
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