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Zachary J Sochacki Licensed
Zachary J Sochacki
Licensed Insurance Agent & Retirement Planning Specialist
Insurance license:
231395
Licensed in states:
AZ
CO
FL
ID
IL
KS
MD
MI
MN
MO
NV
NM
OH
OR
TX
UT
WA

Zachary J. Sochacki is a graduate of Fenwick College Preparatory High School in Oak Park, Illinois, and the University of Illinois, and subsequently attended Northwestern University's School of Professional Studies. With over 4 decades of experience, he has been involved in the Financial Services Industry since 1980, initially as a "Series 3" securities licensed Commodities Futures Broker, first at the Chicago Board of Trade and then at the Chicago Mercantile Exchange, trading primarily in foreign currency futures, interest rate futures and stock market index futures. In 1988, he acquired his Insurance Producers License and established a multi-state brokerage and advisory company with a concentration in Annuities and Long Term Care Insurance. A member of MENSA...an international high I.Q. society...his comments have been published in several regional and national magazines, including the prestigious "Journal of Financial Planning", the publication of the Institute of Certified Financial Planners. His client base spans the United States from Hawaii to the East Coast, and includes a number of "expats" currently residing in Central America, South America, the Caribbean, Great Britain and the European Union. A father, grandfather, and a U.S. Army combat veteran of the Vietnam War, he and his wife, Sherry, reside within "The Galena Territory", a resort community located in the far northwestern corner of Illinois.

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What is an annuity?

What type of annuity is right for you?

The type of annuity that's right for you will depend on your personal goals, objectives, and risk tolerance.

Multi-Year Guaranteed Annuities

A multi-year guaranteed annuity, or MYGA, offers a predetermined and contractually guaranteed interest rate for a fixed period of time.

  • Less market risk exposure

    Since a MYGA offers a guaranteed interest rate for the entire contracted term, it may appeal to those who prefer predictability over market fluctuations. All guarantees are backed by the issuing insurance company’s claims-paying ability.

  • Flexibility and liquidity

    The ability to take partial withdrawals each year without a penalty provides flexibility. For example, if you need money to cover a large medical bill, you could withdraw it from your MYGA, which might be a better option than taking money from an IRA or getting a 401(k) loan.

Guaranteed yield to surrender is shown for corresponding surrender period
3 yrs
6.10%
4 yrs
6.05%
5 yrs
6.25%
7 yrs
6.10%
9 yrs
5.70%
10 yrs
6.05%

Traditional Fixed Annuities

Fixed annuities are insurance contracts that pay a guaranteed rate of interest on the account owner's contributions.

  • Predictable credited interest rates

    The rates on fixed annuities are derived from the insurer’s general account, which is typically composed of high-quality bonds and other conservative holdings.

  • Guaranteed minimum rates

    Once the initial guarantee period in the contract expires, the insurer can adjust the rate based on a stated formula or on the yield it is earning on its general account. As a measure of protection against declining interest rates, fixed annuity contracts typically include a minimum rate guarantee.

Current yield to surrender is shown for corresponding surrender period
3 yrs
3.00%
5 yrs
6.00%
7 yrs
5.50%
9 yrs
6.00%
10 yrs
5.50%

Fixed Index Annuities

A form of fixed annuity that earns interest due to changes in a market index. Rather than using an interest rate as a benchmark, it uses a stock market index to determine growth.

  • Full protection of principal

    FIAs are protected from the volatility of the markets. Money is never invested in the stock market. Your credit strategy tracks the stock market, but you do not own assets that can lose value.

  • Can potentially provide better rates than CDs

    From 1999 to 2020, many fixed index annuities outperformed the indexes they were correlated with. However, while this happens from time to time, they are not designed to outperform the stock market.

  • An efficient way to plan for future income needs

    Once you annuitize with a lifetime payout option or turn on the income rider payouts, you cannot outlive that income stream.

Top rates for S&P 500 annual point-to-point accounts with cap
13.50%
12.25%
12.00%
11.55%
11.50%
Top guaranteed monthly lifetime payouts from an income rider
$1,341
$1,325
$1,252
$1,242
$1,228
Assuming male, $100,000 premium, issue age 55 and commencing at age 65.

How annuities help you retire

Annuities can help ensure a retirement strategy and income that lasts as long as you do, which is likely to be a very long time.

  • A Certain Level Of Guarantee

    You know what your rate of return will be for a certain period of time with fixed annuities. For seniors looking for a predictable income stream, that may be a better alternative than putting money into equities.

  • Predictable Income For Life

    Income riders may be an effective vehicle for lasting financial security. When paired with the right annuity, an income rider can provide a steady income stream for the rest of your life.

  • Tax-Deferred Growth

    In general, during the accumulation phase of an annuity contract, your earnings grow tax-deferred. You pay taxes only when you start taking withdrawals from the annuity.

  • Death Benefits For Heirs

    The owner can designate a beneficiary to inherit the remaining annuity payments after death. After an annuitant dies, insurance companies distribute any remaining payments to beneficiaries.

Top 3 Retirement Mistakes Most People With $250k+ Make

This FREE PDF Download reveals the top 3 retirement mistakes many people who have saved up to $250,000 or more make. These mistakes cost them over 30% of their nest egg at retirement. To get your free copy, enter your name and email address below.

— Zachary J Sochacki,

Licensed Insurance Agent & Retirement Planning Specialist
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Zachary J Sochacki
Insurance license 231395
Address

150 Cogan Drive

Galena, IL , 61036-8513

Phone number
(888) 843-4582
Email

Annuity products are offered through independent licensed insurance agents. Product availability, features and rates may vary by state. This information does not represent a recommendation or advice specific to your situation. The annuity information provided comes from sources deemed to be reliable but cannot be guaranteed. Check with the annuity company for current product information, and review all annuity rates, terms, conditions and costs before making a purchasing decision. Annuity guarantees are backed by the financial strength and claims-paying ability of the issuing company.

Disclaimer: If you reside in a state where we are not currently licensed to write business, please know that it typically takes 1-2 days for us to apply for and be issued a license to do business in most states through NIPR.

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