When Is the Best Time to Buy an Annuity?

Most retirees buy annuities in their 50s or 60s when they want predictable income and protection from market risk. Deferred annuities work well earlier, while immediate annuities suit those ready to retire now.

Do I Have to Pay Taxes on Annuity Income in Florida?

Florida does not tax annuity withdrawals at the state level. Federal income taxes still apply to the earnings portion of your annuity distributions.

Can I Withdraw Money Early from an Annuity?

Yes, but early withdrawals can trigger surrender fees and tax penalties. Most annuities allow up to 10% to be withdrawn annually without penalty.

How Much Money Do I Need to Buy an Annuity?

Minimum investment amounts vary by provider and annuity type, but most start between $5,000 and $25,000.

Fraser Allport: Working Wall Street During Black Monday 1987

By Fraser Allport – Fiduciary, Retirement Advisor, and Certified Estate Planner ™

43 Years of Experience … and Experience Matters

In October of 1987, I was a young Financial Advisor deep in the fast-paced world of Wall Street. Every morning began with the exhilarating buzz of possibility. Stocks traded rapidly, fortunes changed hands, and careers were made. But October 19th, known forever as Black Monday, was different. It was the day Wall Street changed, marking history with the single most significant one-day market crash in American financial history.

Walking Into My Office That Morning

Walking into my office that morning, I immediately sensed the tension. Traders stared at screens flashing red; telephones rang off the hook, and Clients panicked on the other end. The Dow Jones Industrial Average was in freefall, ultimately plunging by more than 22 percent by the day's close. The markets were hemorrhaging value, and as Financial Professionals, we scrambled desperately to advise our Clients amid the chaos.

Read: "The History of the Annuity" By Fraser Allport

A Test of Nerves, Courage, and Strategy

That day was a test of nerves, courage, and strategy. It taught me unforgettable lessons about the critical importance of Risk Management, Diversification, and Emotional Discipline. It reinforced my understanding that sound Financial Planning is not just about making money; it's about protecting wealth through turbulent times.

Fast Forward to Today

Fast forward to today, after more than four decades in Financial Services, and those early experiences still profoundly influence my work. Today, as a Fiduciary, I focus on safety first-protecting my clients principal and generating income checks for them. Based in beautiful Daytona Beach Shores, Florida, at 2 Oceans West Blvd., I proudly serve Clients throughout Florida, including Volusia, Flagler, Orange, Osceola, and Seminole Counties.

As "The Total Advisor," I have built my career around helping Individuals and Families with Comprehensive Financial Planning. I specialize in Retirement Strategies, Estate Planning, Social Security Optimization, Medicare Guidance, Tax Reduction Strategies, and Asset Protection.

Fraser Allport Former Host of iHeartRadio

Why I Love What I Do

I love what I do because guiding people through life's complex financial journey is highly rewarding, providing clarity and confidence in their decisions. Each Client presents a unique financial puzzle, and solving it and watching a carefully crafted plan come to fruition never ceases to inspire and fulfill me.

Reflecting on that Historic Day

Reflecting on that historic day in 1987, I realize how pivotal it was in shaping my approach to advising. It reinforced my dedication to educating my clients thoroughly and ensuring they're well-prepared for whatever the markets bring.

My passion for Financial Advising remains strong because, at its heart, it's about helping people achieve lasting Security and Peace of Mind, no matter how unpredictable the financial landscape may be.

Read: "How Annuities Integrate with Social Security and Medicare" By Fraser Allport

Ready to take control of your financial future? Let’s talk. Call me directly at (386) 882-6256.

Fraser Allport – The Total Advisor

"To Your Financial Health and Peace of Mind"

Schedule A Consultation

References

Fraser Allport – The Historical Impact of Black Monday, 1987U.S. Securities and Exchange Commission (SEC). “The October 1987 Market Break.”https://www.sec.gov/reportspubs/special-studies/1987-market-break
Fraser Allport – Black Monday’s 22% Market Drop in a Single DayInvestopedia. “Black Monday: The Stock Market Crash of October 19, 1987.”https://www.investopedia.com/terms/b/blackmonday.asp
Fraser Allport – Lessons in Risk Management and DiversificationFINRA (Financial Industry Regulatory Authority). “Investor Tips: Diversification.”https://www.finra.org/investors/insights/diversification
Fraser Allport – Why Emotional Discipline Is Critical in Financial PlanningCFA Institute. “Behavioral Finance: Managing Emotion in Investing.”https://www.cfainstitute.org/en/research/cfa-digest/2019/01/behavioral-finance
Fraser Allport – Comprehensive Financial Planning as a Fiduciary PracticeCertified Financial Planner Board of Standards. “What Is a Fiduciary?”https://www.letsmakeaplan.org/why-choose-a-cfp-professional/fiduciary-duty