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TheMYGAnnuity.com

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Home
The Basics
FAQ
About
Contact

TheMYGAnnuity.com

Home
The Basics
FAQ
About
Contact

Home
The Basics
FAQ
About
Contact

Contact Us

410-663-0700
[email protected]
9621 Harford Rd, Parkville, MD 21234

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Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual.

Fixed annuities are long term investment vehicles designed for retirement purposes. Withdrawals made prior to age 59 ½ are subject to a 10% IRS penalty and surrender charge may apply. All guarantees are subject to the claims paying ability of the issuing company. Gains from tax deferred investments are taxed as ordinary income upon withdrawal.

You typically fund an MYGA with a single premium payment ranging from $5,000 to $2 million, for example. The terms for this annuity generally are three, five or seven years. Taxes on interest earned from a MYGA are deferred until withdrawals start.

In general, if interest rates climb above the guaranteed rate when money is taken out of an MGYA, the market value of your investment may decrease. But if interest rates fall below the guaranteed rate when the money is taken out, the value of the MYGA may be bumped up.

If you fund an MYGA with money from a qualified account like an individual retirement account (IRA) or another type of tax-advantaged retirement account, you’ll pay taxes on the principal and interest when you take money out of the annuity.

No strategy assures success or protects against loss.

The financial consultants of Maryland Financial Advocates are Registered Representatives and Investment Adviser Representatives with securities and investment advisory services offered through LPL Financial, a Registered Investment Advisor, Member FINRA / SIPC. The LPL Financial Registered Representatives associated with this site may only discuss and/or transact securities business with residents of the following states: MD, VA, PA, FL, DE, WA, TX, GA, MA, NC, OR, WV.

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