An annuity can provide you with a tax-deferred way of saving for your retirement. And once you've retired, an annuity can give you a guaranteed stream of income for as long as you live.* It's like getting a paycheck for the rest of your life; and it can help you maximize your income throughout retirement.

Product Offerings

Immediate Annuities
Immediate annuities can supplement other sources of retirement income with payouts that begin soon after you buy them. They can be a good choice if you're retired or about to retire. Typically, they're purchased with a single payment that's converted to a steady stream of income that lasts a lifetime (or a specified number of years). Some options let you pass payments on to a beneficiary after you're gone.

Deferred Annuities
A deferred annuity is a type of long-term personal retirement account designed to help grow your assets, and provide a steady income stream once you are retired. These provide tax-deferred savings for longer-term goals, such as retirement. A deferred annuity has two phases: the savings and investing phase, and the retirement income phase.

All of your earnings grow tax-deferred, which means you don't pay any taxes on your earnings until you withdraw your money, usually at retirement. Amounts withdrawn prior to age 59½ are generally subject to a 10% federal income tax penalty as well as ordinary income taxes.

Getting Started
You can make a single, lump sum contribution and add to it later, or you can make multiple contributions over time.

Savings and Accumulation Phase
During the saving and investing phase, your assets grow based upon an interest rate guaranteed for a set period of time by the issuing insurance company.

Retirement Income Phase
During this phase, you have a choice of how to structure your income payments to complement your other retirement income sources. You can choose systematic withdrawals, take income as you need it, or convert your savings into a series of income payments (called annuitizing your contract). You can elect to receive these payments for a set time period, or choose an income stream guaranteed for life.

Types of Deferred Annuities:

Fixed Deferred Annuities

• Offer an interest rate guaranteed for a set period of time. Your earnings grow tax-deferred until you begin to withdraw your income. Because your principal and interest rate are guaranteed by the issuing company, it is important to consider a strong, stable company that will be there tomorrow. The company generally resets the interest rate periodically, but guarantees the rate will never fall below a minimum rate stated in your contract. 
• You can have a fixed deferred annuity that accepts a single payment or one that accepts multiple payments.

Contact Gino P. Molettieri today at 781-942-5000 x144

Please note that Investment and Insurance Products are: not FDIC insured, not bank guaranteed, may lose value, and not insured by any Federal Government Agency.

Securities products and financial planning services are offered through registered representatives and financial planners, respectively, of New England Securities Corp.(NES), a broker-dealer (member FINRA/SIPC) and a Registered Investment Adviser. Baystate Financial Services is a general agency of New England Life Insurance Company(NELICO), Boston, MA.  NES & NELICO are affiliates.  Neither Baystate Financial Services nor Reading Co-Operative Bank are affiliated with NES.

Securities and variable products are only offered at 180 Haven St., Reading, MA 01867.

1. Neither New England Securities/Baystate Financial Group nor its representatives offer tax or legal advice. Please consult your tax advisor or attorney for guidance.
2. All product guarantees are based upon the financial strength and claims paying ability of the issuing insurance company. L0809053207[0810] [Fl, MA, ME, NH]