Understanding Retirement Accounts & Annuities: What You Need to Know
Planning for retirement isn’t just about saving—it’s about securing a stable, dependable income for the years ahead. Whether you're just getting started or planning your income stream, understanding the right tools is essential. Here are key options to consider:
 

1. Traditional & Roth IRAs

Both are individual retirement accounts—but they’re taxed differently.

• Traditional IRA: Contributions may be tax-deductible; taxes are paid when you withdraw. Good for reducing current taxable income.

• Roth IRA: Pay taxes now, but qualified withdrawals are tax-free in retirement. Ideal if you expect to be in a higher tax bracket later.

Both options are offered through National Life Group and can be funded with annuities or investment products.
 

2. Fixed Indexed Annuities (FIAs)

Offered by National Life Group, FIAs grow based on the performance of a market index (like the S&P 500) but without the risk of market loss.

• Pros: Downside protection, tax-deferred growth, and potential for steady returns.

• Best for: People wanting market-linked growth with guaranteed protection.

Products: SPDA (Single Premium Deferred Annuity) and FPDA (Flexible Premium Deferred Annuity).
 

3. Multi-Year Guaranteed Annuities (MYGAs)

Fixed interest rates for a set period (3–5 years or more). Products like Green Mountain Freedom 5 or RetireMax Secure 3 offer stable, predictable growth.

• Pros: Simplicity, guaranteed rates, tax deferral.

• Best for: Conservative savers who want short- to mid-term growth.
   

4. Immediate Income Annuities (SPIAs)

Turn a lump sum into a guaranteed monthly income, starting right away.

• Pros: Guaranteed lifetime income, predictability.

• Best for: Retirees who want steady income now.
   

5. Deferred Income Annuities (DIAs)

Like SPIAs, but income starts later—typically in 5 to 20 years. Great for planning longevity income.

• Pros: High payout later, longevity protection.

• Best for: People retiring in the next decade.
   

6. Lifetime Income Riders

Available on many National Life annuities, these guarantee income for life—even if your annuity runs out of money.

• Optional Rider: Often added at purchase.

• Best for: Those concerned about outliving their savings.

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7. 403(b) & 457(b) Plans (For Educators & Government Employees)

If you're in the public sector or education, these tax-deferred plans work like 401(k)s and can be paired with annuities.

• Offered through: National Life Group’s retirement solutions division.

• Great for: Building retirement savings with employer contributions and tax advantages.
   

8. Tax Advantages & Rollover Options

Many National Life annuities allow you to roll over funds from 401(k)s, IRAs, or other retirement plans—without tax penalties.

• Note: Always check surrender charges and contract terms before rolling funds.
   

9. Payout Options

You can choose:

• Lifetime income

• Income for a fixed period

• Joint life (for you and a spouse)
  Understanding the options ensures your money lasts as long as you do—or even longer.

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Pro Tip:
Ask about bonus rates, income multipliers, and living benefit riders that can enhance your retirement income—many are available with National Life’s indexed annuities.