Francis J Clement, CFP®, WMCP®, RICP®, CLU®
Wealth Management Advisor

Clement Wealth Management


What is an annuity?

An annuity is an agreement or contract between you and an insurance company that lets you put money away for retirement, so you can get a guaranteed1 regular "paycheck" after you retire. Annuities grow tax-deferred until they start paying you an income. You contribute to an annuity – either as a lump sum, or in several payments over time – in order to get regular payments in the future, and for the rest of your life. As a tradeoff, annuities come with less liquidity than other investments.2 It's smart to choose a company like Northwestern Mutual, with its exceptional credit ratings and 160 years of service, to guarantee these payments.

Learn more about annuities.


1 All guarantees are backed by the claims-paying ability of the issuer.
2 Withdrawals from annuities may be subject to ordinary income tax, a 10% IRS early withdrawal penalty if taken before age 59½, and contractual withdrawal charges.



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