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Annuity Planning in Myrtle Beach, SC

When you think about retirement income, the big question is usually simple: how do I turn savings into a paycheck I can actually plan around? For many retirees in Myrtle Beach and across the Grand Strand, annuities are one option worth understanding. At Stonebridge Financial, we help you sort through what annuities are, how they work, and where they may (or may not) belong inside a retirement plan.

One thing’s clear: the worry is common. In LIMRA’s 2025 Protected Retirement Income and Planning Study, 54% of Baby Boomers and Gen Xers said they’re fearful of outliving their savings. 

That’s exactly the kind of concern annuities are designed to address. If you would like to learn more, contact us today to start a conversation.

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What Are Annuities?


An annuity is a contract, typically with an insurance company. You put money in either as a lump sum or through contributions over time. It’s one of several tools we can examine when looking at annuity planning as part of your income strategy.

An annuity can potentially provide:

  • Income now or later (depending on the design)
  • Tax-deferred growth while funds accumulate (in many cases)
  • Principal protection in certain annuity types (not all)

People in Myrtle Beach often wonder how annuities work alongside Social Security, 401(k)s, IRAs, and other retirement plans. There’s no one-size-fits-all answer — but thoughtful planning can help you feel more confident about how all the parts fit together.

The Main Types of Annuities Retirees See Today

Fixed Annuities



A fixed annuity credits a stated interest rate for a defined period, providing a more predictable accumulation path than many market-based options. In practical terms, you’re exchanging some upside potential for greater clarity around how that portion of your assets is expected to grow during the contract term.


For retirees or pre-retirees who value stability, this structure can be useful when you want a segment of your retirement plan to be less sensitive to market swings, particularly if that money is intended to support near-term income needs or to serve as a conservative anchor alongside other investments. 


Fixed Indexed Annuities (FIAs)

A fixed indexed annuity is typically a deferred annuity with growth potential tied to an index (like the S&P 500), while also providing protection from negative index returns, depending on contract design. 

Here’s the plain-English version:

  • You’re not directly invested in the stock market.
  • Your interest crediting is linked to index performance, subject to limits (caps, participation rates, spreads).
  • Down markets may not reduce your principal due to index performance, but contract rules matter.

A fixed indexed annuity can be a middle-ground option for people who want some market-linked growth potential without taking on full market downside.

Variable Annuities



Variable annuities generally invest in subaccounts (kind of like mutual funds inside an insurance wrapper), so your results will rise and fall with the market. That can be a plus if you want more growth potential, but it also means you’re taking on real downside risk, especially in choppy years. 


Where people get tripped up is the fine print: variable annuities often include multiple fees, and optional riders can add more cost and extra rules around how and when you can access money. So before you commit, it’s smart to look closely at the total expenses, surrender period, investment options, and what you’re actually getting in return.

Immediate vs. Deferred Annuities:

Immediate annuities are designed for people who want income to start relatively soon after purchase. You typically exchange a lump sum for a predictable payment stream that can begin right away or within a short window. For retirees, this can be a practical way to cover baseline expenses when you want something that feels more “paycheck-like” alongside Social Security or other income sources.


Deferred annuities take a different approach. They’re built to grow first, often on a tax-deferred basis, with the option to turn that value into income later. This can make sense if you’re planning for a future retirement date or if you are trying to build an income layer that starts later in retirement rather than immediately. 

How Annuities Work Inside a Retirement Plan

An annuity can make sense when it’s filling a specific gap, like:

  • You want a baseline income layer to pair with Social Security
  • You’re looking to reduce pressure on your investment portfolio for near-term withdrawals
  • You have a clear timeline for when income should start
  • You want to plan around longevity risk (living longer than expected)

Annuities tend to work best when they’re used intentionally, not just because they “sound safe.” If the numbers show they can help cover an income gap or add stability alongside Social Security, they may be worth considering as one piece of a broader retirement plan.

What You Can Expect Working With Us

At Stonebridge Financial, we don’t rush you into decisions. First, we understand what matters in your life — where you are, where you want to go, and what keeps you up at night. Then we evaluate tools like fixed annuities, fixed index annuities, and other guaranteed options within your broader plan, including your investments, retirement income goals, taxes, and legacy considerations.

And we’ll talk in real terms — what the product does, how the fees work, what your potential payouts might look like, and how it fits into your Myrtle Beach lifestyle and long-term dreams.

Frequently Asked questions

What’s the difference between fixed and fixed indexed annuities?

Fixed annuities typically credit a stated rate. Fixed indexed annuities credit interest based on an index formula (with limits like caps or participation rates), and are often designed to protect against negative index returns.

When does an annuity fit into a retirement plan?

Often, when you want to build a dedicated income layer, reduce portfolio withdrawal pressure, or create more predictability around spending. Timing, liquidity needs, and taxes matter.

Are annuity withdrawals taxable?

Earnings withdrawn from many annuities are typically taxed as ordinary income. The details vary by account type and funding source, so we coordinate with your tax professional as needed.

Can I still access my money if I need it?

Some contracts allow limited “free withdrawals,” while others are more restrictive. We’ll map this to your cash reserve plan, so you don't lock up money you may need

Ready to Explore Annuities for Your Retirement?

If you’re curious about how annuities might fit into your retirement picture, get in touch. We’ll break down options, answer your questions, and help you figure out what makes sense given your goals and life in Myrtle Beach and beyond. 

Contact Stonebridge Financial today to schedule a retirement income planning discussion and get clear on whether an annuity belongs in your plan.

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