Are Fidelity Annuities Any Good? A Fidelity Annuity Review

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Fidelity Annuity Review

Fidelity offers a limited range of annuity products designed for straightforward retirement needs. This review will outline Fidelity’s annuities‘ key features, benefits, and limitations, providing insights to help you decide if they fit your retirement strategy.

Fidelity’s Annuity Options At A Glance

Annuity TypeControl Over MoneyPotential for GrowthRisk of LossFees
Immediate Fixed IncomeNoneNoneNoneLow
Deferred Fixed IncomeNoneNoneNoneLow
VariableSomeYesHighHigh
Fixed DeferredSomeMinimalNoneNone

Immediate Fixed Income Annuities

These annuities require a lump sum investment in exchange for regular payments that start almost immediately. They offer:

  • Predictable Income: Ensures a steady stream of income right after retirement.
  • Security: No risk of market fluctuations affecting your income.
  • Low Fees: Minimal administrative costs compared to other annuity types.

Deferred Fixed Income Annuities

Similar to immediate annuities, but payments start at a future date you choose, offering:

  • Future Planning: Helps plan for future income needs, ensuring financial stability.
  • No Risk: Like immediate annuities, there’s no exposure to market risks.
  • Low Costs: Keeps fees low, making it a cost-effective option.

Variable Annuities

These annuities tie your payments to the performance of selected investment options, offering:

  • Growth Potential: Opportunity for higher returns based on market performance.
  • Investment Control: Flexibility in choosing your investment options.
  • Higher Risk: Potential for loss if investments perform poorly, coupled with higher fees
Fidelity Annuity Reviews

Why Choose (Or Not Choose) Fidelity’s Annuities?

Pros:

  • Expertise: Fidelity’s financial representatives bring a wealth of knowledge to the table.
  • Simplicity: Their immediate and deferred fixed income annuities offer straightforward, predictable income.

Cons:

  • Limited Options: Fidelity’s financial representatives are limited in what they can offer to their clients.
  • Lower Rates: Fidelity fixed annuities often offer lower rates than most fixed annuity rates available in the market.
  • Loss of Control: Fidelity’s income annuities require annuitization, meaning once you commit, you can’t change your mind.
  • Fees and Risks: Fidelity’s variable annuities come with hefty fees and the potential to lose money.
  • No Indexed Annuities: Fidelity does not offer indexed annuities, which can provide interest based on stock market performance without direct market risk.

The Benefits Of Shopping With An Independent Annuity Broker

Unlike a captive agency, which is limited to offering products from one provider, an independent annuity broker can scour the market to find the best fit for you. This means more options, potentially better rates, and a retirement solution tailored to your unique needs.

Fidelity Fixed Annuity Rates

Compare Fidelity’s Fixed Income Rates

When selecting an annuity, fixed interest rates are a crucial factor. These rates vary significantly based on the term length and the economic environment. Here’s a comparison of the current fixed interest rates offered by Fidelity and a few other prominent companies:

Compare Fidelity’s Annuity Income

Determine if Fidelity’s annuities are providing the highest amount of retirement income.

How We Can Help

You might be wondering how to best secure your financial future. The core problem we solve is providing a reliable income stream during retirement.

Understanding Your Concerns

We know the uncertainty about post-retirement finances can be stressful. Variable market conditions, inflation, and longevity risks can significantly impact your peace of mind.

Our Expertise

For 15 years, The Annuity Expert has been an insurance agency, annuity broker, and retirement planner. We believe in finding the best solutions at the lowest costs, ensuring you get maximum value.

Fidelity Annuity Review

What We Recommend

Step 1: Consultation

  • What happens: Schedule a free consultation to discuss your retirement goals and financial situation.
  • Main benefit: Personalized advice tailored to your needs, ensuring a strategy that works for you.

Step 2: Plan Development

  • What we do: Develop a comprehensive retirement plan with suitable annuity options.
  • Main benefit: A clear, actionable plan providing peace of mind and financial security.

Step 3: Implementation And Support

  • What we deliver: Assist in implementing the plan and provide ongoing support.
  • Main benefit: Continuous guidance and adjustments to keep your retirement plan on track.

Features And Benefits

  • Personalized Service: Tailored solutions for your unique needs, ensuring the best fit.
  • Expert Advice: Decades of experience offering sound financial strategies.
  • Comprehensive Support: From initial consultation to ongoing management.

Overcoming Objections

  • Concern: “I can manage my retirement on my own.”
    • Counter: Professional guidance ensures optimized returns and mitigated risks.
  • Concern: “I don’t want to commit to something inflexible.”
    • Counter: Our plans are designed with flexibility, and your future needs in mind.

Working with us ensures a secure, stress-free retirement with a steady income stream. You’ll experience peace of mind knowing your financial future is in expert hands.

Contact us today for free advice or a quote.

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Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Shawn Plummer is a Chartered Retirement Planning Counselor, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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