Are you a resident of New Mexico searching for the best options to secure your financial future? Fixed annuities and CD (Certificate of Deposit) rates are some of the most popular investment options available today. These options provide a safe and secure way to grow your savings and ensure a stable financial future. This comparison will explore the best-fixed annuity and CD rates available in New Mexico to help you make an informed decision.
Earn The Highest Interest Rates On Savings Today
Fixed annuities are almost identical to Certificates of Deposit (CDs) accounts and provide higher interest rates and penalty-free withdrawals for income.
| Term | Insurance Company | Interest Rate |
|---|---|---|
| N/A | UFB Bank Savings Account | 5.02% |
| N/A | UFB Bank Money Market | 5.02% |
| 12 Months | Western Alliance Bank CD | 5.01% |
| 36 Months | Oceanview Fixed Annuity | 5.00% |
| 48 Months | Americo Fixed Annuity | 5.05% |
| 5 Years | Aspida Fixed Annuity | 5.50% |
| 6 Years | American National Fixed Annuity | 5.45% |
| 10 Years | American National Fixed Annuity | 5.45% |
Disclaimer: This is a review. The Annuity Expert is not associated with a bank or credit union. However, fixed annuities are sold at most financial institutions. We aim to help you find the highest interest rates for your retirement savings. We may receive a small referral fee if you purchase something using a link in this article.
The Best Fixed Annuity Rates In New Mexico
Fixed annuities are insurance products that offer a guaranteed rate of return over a specified period. The funds invested in a fixed annuity grow tax-deferred until they are withdrawn, at which point they are taxed as ordinary income. This makes fixed annuities an intelligent choice for individuals looking to grow their savings while minimizing their tax liability.
Advantages of Fixed Annuities
- The guaranteed rate of return: One of the main advantages of fixed annuities is that they offer a guaranteed rate of return, which makes them a safe option for those looking to grow their savings.
- Tax-deferred growth: Another advantage of fixed annuities is that the funds invested grow tax-deferred, which means you won’t have to pay taxes on the interest earned until you withdraw the funds.
- Steady income stream: Fixed annuities can provide a steady income stream, making them an ideal option for retired or approaching retirement.
The Best CD Rates In New Mexico
CD (Certificate of Deposit) rates are another popular investment option in New Mexico. They offer a fixed rate of return and are FDIC insured, making them a safe option for those looking to grow their savings. CD rates are determined by the deposit length, with longer-term CDs generally offering higher rates of return.
Advantages of CD Rates
- The guaranteed rate of return: CD rates offer a guaranteed rate of return, which makes them a safe option for those looking to grow their savings.
- FDIC insurance: CD deposits are insured by the FDIC, which means that your funds are protected by up to $250,000 per account in case of a bank failure.
- Flexibility: CD rates are available in various terms, from 6 months to 5 years, allowing you to choose the term that best suits your financial goals.
Finding the Best Fixed Annuity and CD Rates in New Mexico
When comparing interest rates from fixed annuities and CDs in New Mexico, it is essential to consider the following tips:
- Look for reputable insurance companies: The strength of the insurance company offering the fixed annuity is a crucial factor to consider. Look for companies with strong financial ratings and a good industry reputation.
- Compare rates of return: Compare the rate offered by different fixed annuities and CDs. Make sure to consider the length of the deposit and the fees associated with each option.
- Consider the length of the deposit: The length can significantly impact the rate of return offered by fixed annuities and CDs. Longer-term deposits generally offer higher rates of return, but they also require a longer commitment.
- Consider fees: Make sure to consider any fees associated with fixed annuities and CDs, such as surrender fees or penalties for early withdrawal.
Next Steps
All-in-all, fixed annuities and CD rates are excellent options for anyone looking to invest in New Mexico. With the potential of steady returns over time, fewer risks, and the choice between short- or long-term investments, consider these two options if you want to secure your financial future safely. And remember that when you’re ready, there are plenty of competitive rates available in New Mexico.
- Research before committing to an investment can ensure success and help you make an informed decision.
- Take the time to find the right investment products for your needs, and don’t hesitate to seek expert advice.
You’ll have peace of mind knowing that you have taken steps toward achieving financial stability. If you want more information about New Mexico fixed annuity and CD rate options, contact us for a quote today!
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Disclaimer: I may receive a small referral fee if you purchase something using a link in this guide.