Annuities Agent

Creating Your Own Paycheck for a Secure Retirement

Retirement is supposed to be the “golden years,” a time to relax, travel, and enjoy the fruits of decades of hard labor. However, for many people, the approach of retirement brings a new kind of anxiety: the fear of running out of money. In a world where traditional company pensions are becoming rare and Social Security faces uncertainty, the responsibility for generating retirement income falls squarely on your shoulders. This is where Steven Ballard, as your Annuities Agent with New York Life, becomes an essential ally. We help you transition from the “accumulation” phase of life—saving and growing your money—to the “distribution” phase, where you need that money to sustain you for potentially thirty years or more.

An annuity, at its core, is a contract between you and an insurance company. You make a lump-sum payment or a series of payments, and in return, the insurer agrees to make periodic payments to you, beginning immediately or at some future date. The most powerful feature of many annuities is the ability to create a guaranteed stream of income that you cannot outlive. It is essentially like creating your own private pension. Steven Ballard sits down with you to look at your “income gap.” We calculate your essential monthly expenses—housing, food, healthcare, utilities—and compare that to your guaranteed income sources like Social Security. If there is a gap, an annuity can be the perfect bridge to ensure your basic needs are always met, regardless of what the stock market does.

There are many different types of annuities—fixed, variable, immediate, deferred—and figuring out which one fits your puzzle can be overwhelming. Steven simplifies this landscape. We talk about your risk tolerance. If you are someone who loses sleep when the stock market dips, a fixed annuity might offer the stability you crave, providing a set interest rate and protection of your principal. If you are looking for potential growth to keep up with inflation and are willing to accept some market risk, a variable annuity might be part of the conversation. We explain the fees, the surrender charges, and the benefits of each option in plain English. There is no “hard sell” here; there is only education so that you can make a choice that feels right for you.

One of the greatest risks in retirement is “sequence of returns risk”—the danger of a market crash happening right when you retire and start withdrawing money. If you have to sell investments while they are down to pay for groceries, you deplete your nest egg much faster. Annuities can act as a buffer against this risk. By having a portion of your portfolio in an annuity that provides guaranteed income, you may not have to touch your investment accounts during a market downturn, giving them time to recover. Steven helps you structure your assets so that you have both security for today and growth potential for tomorrow.

Tax efficiency is another critical component of retirement planning that annuities can address. In many cases, the growth within an annuity is tax-deferred, meaning you don’t pay taxes on the earnings until you withdraw them. This can be a strategic way to manage your tax bracket in retirement. Steven Ballard works in concert with your tax professionals to ensure that your annuity strategy aligns with your overall tax picture. We want you to keep as much of your hard-earned money as possible.

We also discuss the role of annuities in legacy planning. Many people worry that if they buy an annuity and die early, the insurance company keeps the money. While that can be true for certain simple life-only payouts, modern annuities offer a variety of death benefit options. You can often structure an annuity so that any remaining funds go to your beneficiaries, ensuring that your wealth is passed on to your children or a favorite charity. Steven walks you through these riders and provisions so you understand exactly how your asset is protected for the next generation.

It is important to acknowledge that annuities are not for everyone and they are not a cure-all. They are tools in a toolkit. Steven Ballard takes a holistic view. We don’t look at the annuity in isolation; we look at how it fits with your 401(k), your IRA, your savings, and your real estate. We check to make sure you have enough liquid cash for emergencies before committing funds to an annuity. Our goal is to ensure you feel “financially free.” To us, financial freedom means knowing that no matter how long you live, the check will keep coming.

Working with a New York Life agent means you are backed by a company with a long history of financial strength. An annuity is a long-term promise, so the stability of the company making that promise is paramount. Steven Ballard is proud to offer products from a company that has weathered financial storms for over a century. When we set up an income plan for you, we intend for it to be rock solid.

Retirement should be about joy, not worry. It should be about spending time with grandchildren, pursuing hobbies, and volunteering, not watching the ticker on the news and worrying about your grocery bill. Let Steven Ballard help you build a floor of guaranteed income under your retirement. With the right annuity strategy, you can turn the uncertainty of the future into a predictable, steady stream of security.