Annuities are one of the few tax-advantaged vehicles to survive the sweeping tax reform of the 1980's. Annuities are best suited for funding your retirement needs. You should plan early to benefit from compounded tax-deferred earnings to achieve a rewarding secure retirement. The higher your tax bracket, the more benefit you derive from tax deferral. They are not deposits or obligations of Broadway National Bank or any other affiliated entity and are not guaranteed by the bank.
Annuities involve investment risks, including the possible loss of principal amount invested.
The Broadway makes available variable annuities through Financial Network Investment Corporation. A variable annuity provides stock and bond portfolios to help keep pace with inflation. At the same time, a portion of your funds can be allocated to a fixed-interest account which offers a guaranteed rate and a guarantee of principal from the issuing insurance company. Generally speaking, it is best to view a variable annuity as a long-term investment, for a minimum of five years, to allow for earnings to grow. The variable annuity offers ready access to a defined portion of your funds.