Annuities
in Lake Forest, IL.
Get a paycheck in retirement, one that never runs out.
The biggest fear in retirement isn't the stock market, it's running out of money. Annuities solve that problem by converting a portion of your savings into guaranteed income that lasts as long as you do.
At our firm, we help families in Chicago's Northern Suburbs evaluate whether an annuity belongs in their retirement plan, and if so, which type fits best. Fixed, indexed, MYGA, QLAC, we cut through the complexity and give you a straight answer.
What this looks like in Lake Forest.
Lake Forest retirees at the highest wealth tiers generally use annuities selectively, typically as longevity insurance for the later years of retirement rather than as primary income. A deferred income annuity that begins at age 82 or 85 provides a guaranteed income floor during the years when portfolio drawdowns have reduced asset levels and healthcare costs have increased. We evaluate this strategy specifically for clients whose spending in early retirement is high but who want protection against the risk of outliving their assets.
The county details.
Many Lake County retirees from major pharmaceutical and healthcare employers have defined benefit pensions that form the foundation of their guaranteed income, which changes how we think about annuities. Rather than building an income floor from scratch, we evaluate whether the pension alone covers essential expenses and size any additional annuity to fill only the remaining gap. Illinois's full exemption of retirement income, including both pension and annuity distributions, means Lake County retirees face no state income tax on these sources, and the full benefit of guaranteed income flows without a state tax haircut.
Why Lake Forest.
Lake Forest families often have complex financial situations involving business ownership, stock options, multiple properties, and multi-generational wealth transfer. Our estate planning and tax strategy expertise is especially relevant here.
Things Lake Forest families ask.
Down the shore.
Talk to a Lake Forest
advisor.
One free conversation about annuities, at your kitchen table, our Evanston office, or a video call.