For retirees and pre-retirees in Wilmington, North Carolina, protecting savings while earning a predictable interest rate has become more important than ever. A Multi-Year Guaranteed Annuity, often called a MYGA, can be a smart alternative for people who want safety, stability, and a fixed rate for a set period of time.
What Is a MYGA Annuity?
A MYGA is a fixed annuity that guarantees an interest rate for a specific number of years, such as 3, 5, 7, or 10 years. Unlike the stock market, your principal is not exposed to daily market losses.
Why Wilmington Retirees Consider MYGAs
Many Wilmington retirees want a place for conservative money that may earn more than traditional bank savings while still keeping risk low. MYGAs can help provide predictable growth, tax deferral, and peace of mind.
MYGA Benefits
- Guaranteed fixed interest rate
- No stock market risk
- Tax-deferred growth
- Multiple term options
- Can be used as part of a retirement income plan
Is a MYGA Right for You?
A MYGA may be a good fit if you have money sitting in CDs, savings accounts, or conservative investments and want a guaranteed rate for a set period. It is important to compare surrender periods, withdrawal rules, company ratings, and income options before choosing a contract.
Compare MYGA Annuity Options
Mintco Financial can help you compare MYGA annuity rates and determine whether a fixed annuity fits your retirement plan.
Call 813-964-7100
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This information is for educational purposes only and should not be considered financial advice. Annuity guarantees are backed by the claims-paying ability of the issuing insurance company.