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Annuity Basics

How do I protect my retirement?

Granger Hughes

Many people today are faced with the harsh reality that they may wake up one day and their 401(k), or other retirement plan, may be cut in half. We put our lifetime and hard-earned savings onto the proverbial blackjack table. In reality, many people who play blackjack wouldn’t dare take their entire stack of chips and bet it on one hand; however, we do it every day with our retirement. Is this because we don’t know better, or have we been hardwired to think this...

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Who Does Your Financial Advisor Work For?

Joseph A. Grutta

Have you ever asked your financial advisor who they work for? Do they truly represent your best interests or those of the firm they work for? Are they acting on your behalf? Is their advice based on a fiduciary standard or a suitability standard? Do you know the difference? These are very important questions to know the answers to before turning your hard-earned money over to someone to manage on your behalf. For many years, I have encouraged people who are looking for help managing...

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Why the Social Security Administration Can’t Help You With Your Benefits

Sam Liang

The Social Security Administration (SSA) can’t help you with your Social Security benefits. That sounds funny, I know, but they can’t. What I mean is that they can’t help you put a plan in place to maximize your benefits. An article in last year’s Wall Street Journal said it best: “The Social Security isn’t your financial advisor.”1 Everyday, 182,000 people visit an SSA office. They field 445,000 phone calls daily. In 2014, they received 17 million applications just for new and replacement cards. 59 million...

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6 Things to Consider When Buying an Annuity

Bryan Bentley

So, you are considering purchasing an annuity to help protect your retirement savings or to solve a concern that may not be easily addressed with other investment vehicles. Here are a few things to consider when making a decision about buying an annuity. 1. Surrender Charge Period Expressed in terms of years, the surrender charge defines how long your money must remain in the annuity before you have unrestricted access to it. With most annuities, a portion of your money is available penalty-free during the...

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Fixed Indexed Annuities: The Next Generation

Gary Scheer

If you are 55 years of age or older, chances are you regularly receive invitations to seminars and lectures on such topics as “How to Secure Your Finances in Retirement”, “How to Maximize Your Social Security Benefits”, “How to Create a Guaranteed Income for Life”, “How to Enjoy Stock Market Returns with No Downside Market Risks”, and more. Quite often, these presentations focus on the benefits of including fixed indexed annuities, also known as indexed annuities, as a “safe money” strategy for one’s retirement income...

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Using Annuities to Combat Social Security Loss

Gary Mattson

If you have planned for retirement, then hopefully, you’ll be ready to enjoy a lifestyle with steady income that gives you enough every month to pay for your recurring bills, along with having the funds to enjoy travel, assist grandkids with education, delve into a hobby or start a new one, or anything else on your “bucket list”. As you’re enjoying the prospects of helping grandchildren and family members learn from your financial success, tragedy happens. A loved one passes, leaving you alone and worried,...

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How to Get the Most Income Out of an Annuity

Tim Fitzwilliams

As a consumer planning for the future, it’s important to understand what an annuity is, how it works, and how much income you’ll receive for the rest of your life. An annuity is a vehicle that is designed to provide income for the rest of your life. The three most common types of annuities used when planning an income include: fixed, variable and indexed. To keep things very simple: Fixed = A set interest rate. Variable = Based on the stock market and has market...

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What Annuity Is Right For The Client?

Robbin Broome

During the last two decades, seniors have experienced a roller coaster financial market. Products are constantly changing, and I am always informing clients about some policy variation. Volatility seems to be the wave of the future. With all this said, what should you look for in an annuity? After all, it is your financial future in question. Individuals need to ask themselves a few questions before purchasing any product in today’s environment. For instance: What are my goals for my money? Am I going to...

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The Truth About Annuities

Rick Graham

The truth about annuities is that there is not so much a good or bad annuity as much as a good or bad fit for your personal situation. There are many different types of annuities and dozens of insurance companies offering them. There are literally hundreds of different annuity product options. It can be very challenging to understand and compare products. To begin with, an annuity is a contract issued by an insurance company to meet specific financial goals, wants, or needs. It’s a contract...

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You Have Been Going About Annuities All Wrong

Morgan Hill

How many times have your clients or prospects told you that they had “researched” indexed annuities? Only later you discover that “research” consisted of typing “indexed annuity” into Google and reading the first couple sentences. As a financial professional who offers indexed annuities in your array of products, you ought to familiarize yourself with Google search engine results related to the product. It doesn’t take long to recognize the negative results. Indeed, much of the easy-to-access Internet literature about annuities is inherently negative. While I...

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