TheMYGAnnuity.com

Multi-year Guarantee

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Simple annuities, designed for real people.

Used in the context of a complete retirement income plan.

Multi-Year Guaranteed Annuities (MYGAs).

Here’s why…….

You make a deposit.
You get a guaranteed interest rate for 3 - 10 years
At the end of the guaranteed term, you can walk-away with your principal plus interest.
We know the starting point, we know the interest rate, and we know the ending point.
That’s it.

Got questions?

Book a 15 minute annuity info call.

You’ll get current MYGA rates, a quick intro to how an annuity may work for you, and answers to commonly asked questions.

Frequently Asked Questions

What if I need my money during the guaranteed term?

These annuities have free withdrawal provisions where you can withdraw either your interest or a percentage, usually 5-10% of the contract during the term. If you exceed those amounts, then you will be subject to a surrender charge which is discussed and disclosed before any purchase

Is the rate really guaranteed?

Yes, with 5 year MYGAs, the rate is known and guaranteed for the entire term of the contract.

MYGAs are simple, pay a known fixed interest rate for the entire term, and are liquid at the end of the term.

What happens at the end of the guaranteed term?

You can walk away with your principal plus interest earned (minus and withdrawals, of course). You can also choose to renew for another 5 year term. We’ll automatically shop that out for you with the top carriers 30 days before your contract ends.

What about taxes?

If you buy an annuity inside of your IRA, then taxes are treated the same as any other holding, they are taxed as income when withdrawn.

If you buy an annuity with after tax/non IRA money, then the interest grows tax-deferred until withdrawn. You will be taxed at your income tax rate when any withdrawals are made.

What if I get sick or there’s an emergency, can I withdraw my money?

Many companies have a terminal illness/nursing home confinement waiver of surrender charges that would allow you to withdraw all of your money under these circumstances

How much money should I put into an annuity?

It depends. Before we open an account for anyone, we do a thorough analysis of your existing assets, risk tolerance, goals, and time horizon to help determine a deposit amount.

What is the commission on an annuity?

It ranges from 1% to 3% depending on the company. We fully disclose all rates and commissions before you make a purchase. The commission is built-in to the pricing of the annuity contract, so it does not come off the top of your deposit. In other words, if you deposit $100,000 into an annuity, you will not see a commission deducted, your $100,000 will start earning interest right away.

I manage my own money/already have an advisor and don’t want that to change, can I still buy a MYGA from you?

Of course, we’re not trying to change what you’re doing. If it makes sense to add a MYGA to your plan, we’re happy to help. If not, we can still be friends

What can I expect from working with you?

We hold ourselves to the fiduciary standard of care, meaning that we will always put your best interests above all else. We fully disclose all costs, commissions, fees, and product features.

We will be thorough and professional in our analysis of your situation.

We have a “sleep on it” policy, we are in no rush for you to make a decision or do business with us right away. If you like and trust us, and want to move forward, then we are here when you are ready.

Do you stay in touch after I buy an annuity?

Of course. We have been in the financial planning and insurance business since 1994. We do a weekly email memo, a monthly printed/mailed old-fashioned newsletter, and we’ll also do an annual review of your annuity. You can also always contact us with any questions. We are accessible by phone, zoom, text, or in-person.

What are the current rates?

Since rates change weekly, we do not publish them here. We provide current rates on the Webinar or if you book an Annuity Info Call. You can also email or call, and we’ll gladly send you a rate sheet.

About Us

Colin Meeks

CERTIFIED FINANCIAL PLANNER^®

Hi, I’m Colin Meeks. I’m a Certified Financial Planner^® and I’ve been using annuities in retirement income plans for clients for 30+ years. I’ve seen annuity products get really complicated over the years, so I created the MYG Annuity website to try to educate investors on a particular type of annuity.

My biggest accomplishment in life so far is raising my 2 sons to be fine young men – it’s been quite a fun ride and I’ve got a lifetime of great memories and stories, but we’re definitely not done.

I’m a generation X’er – born in the early 70’s between the baby boomers and the millennials. I grew up watching The Jeffersons, Sanford and Son, Taxi, and Cheers. I played lacrosse until I hit my early 20’s, now I’m just a spectator with a pair of bad knees.

In my spare time, I love to play golf, cook, coach any sport that my boys are playing, and just enjoy every day. I’m not handy and have no ability or desire for any DIY projects, so if you see me with a power tool please step in and stop me. I’d much rather be watching a baseball game or enjoying happy hour by the water with family and friends.

Some professional stuff you may want to know….

I’ve been in the financial planning business since 1994 and started my own practice in 1998. I am a Certified Financial Planner (since 2001). You can check my background with the CFP® Board, FINRA, and SEC.

My practice is in Baltimore, Maryland, and we serve around 120 families. Some of our clients are local but many are scattered around the country, the farthest one being in Bellingham, Washington.

We do most of our new planning engagements virtually – meaning that we see each other face-to-face over our computers, tablets, or phones. We have found that using technology greatly reduces the costs and increases the benefits to our clients. No drive time, no traffic, no stressing out over being late/early to a meeting, and we can meet whenever and wherever we both are – really cool!

But if you are in the Baltimore area, we can certainly meet in person in our newly renovated modern office.

I definitely can’t help everyone that stops by our website, but that doesn’t mean that we shouldn’t connect. If you have a question about annuities or financial planning in general, please feel free to get in touch. I’m happy to offer a quick phone call or email to see if what I do may help you.