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Annuity Basics

The Baby Boomer And Retirement Income Specialist Matching Service Goes Active In North Carolina

The Baby Boomer And Retirement Income Specialist Matching Service Goes Active In North Carolina

The first free online matching service designed to help baby boomers find retirement income specialists in their local communities is now live throughout North Carolina. Annuity123, the online retirement income educational portal, has opened their Annuity Harmony matching service for the benefit of all residents in North Carolina who are in need of retirement income planning guidance. This innovative online matching service is aimed to link retirees with retirement income specialists whose practice is in their local area. Over 30 years ago Americans were forced...

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How Annuities are Taxed

How Annuities are Taxed

Although rules vary based on the type of annuity and how you elect to receive your money, the tax rules are not as complicated as many seem to believe. Kimberly Lankford wrote an article called ‘How Annuities Are Taxed’ which explains the taxation of annuities is an easily understood manner. In it, she highlights the various annuity types and gives insightful examples to support her explanations. Overall, the major theme is that all proceeds annuities that are purchased with pre-tax funds will be taxed at...

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Can Annuities be Used to Pay for Long-Term Care?

Can Annuities be Used to Pay for Long-Term Care?

Yes, you can transfer money from an annuity to pay long-term-care premiums without owing taxes. This was the result of a tax break that was included in the Pension Protection Act of 2006. Kimberly Lankford posted an article called ‘Use Annuities to Pay for Long-Term Care’ which gives great insight into the advantages that this tax break creates. She gives some powerful examples on how this can be used to both provide themselves with long-term-care while decreasing their taxable gains. For the specifics, please read...

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What to Do With an Inheritance?

What to Do With an Inheritance?

Baby Boomers are expected to inherit roughly $8 trillion from their parents and formulating a plan for receiving that money prior to receipt can pay off in the long run. Sharon Epperson posted an article which describes some key factors to keep in mind when deciding what to do. In it, she notes that the first step in making the most of an inheritance is to outline your financial goals. Many boomers will be able to fund their own retirement and may be able to...

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Fourth Quarter 2011 Indexed Insurance Sales

Fourth Quarter 2011 Indexed Insurance Sales

According to The Indexed Sales and Market Report, 2011 was a year full of records within the Indexed Insurance market. It was the fourth consecutive year for indexed annuity sales topping the 2010 record by over 13%. Indexed life also realized a fourth consecutive year of record setting sales. In fact, indexed life sales for 2011 soared past the previous record set in 2010 by nearly 40%. The results for indexed annuity and indexed life sales in 2011 were $32.4 billion and $974.0 million respectively....

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Index Annuities Going Captive?

Index Annuities Going Captive?

For the average insurance professional selling index annuities, there have been some major ups and downs over the past few years.  Just a couple of years ago it almost seemed certain that fixed index annuities were going to be changed to securities with 151A.  However, the insurance and annuity community really came together and won a tough battle against the powerful broker dealers and FINRA.  We have also seen commissions take a nosedive, caps have followed a similar pattern, and the beloved income riders that...

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The Truth About Buy And Hold

The Truth About Buy And Hold

To begin, none of this can be construed as investment advice as we never give any investment advice or stock recommendations.  What we strive to do is bring education and solid content to our readers.  This week we came across an incredible read from CNN Money called, “Why Buy and Hold Doesn’t Work Anymore“.  The title jumped out at us right away because that is usually the opposite of what CNN and many of their peers publish.  Not to mention, it is the mantra that...

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The “Stretch IRA” Could Be Finished For Good

The “Stretch IRA” Could Be Finished For Good

Although as consumers we are not even close to being experts on stretch IRA’s, we are certainly comfortable with the basics. We are also comfortable knowing the powerful value they contain to continue a legacy and to spread out large tax burdens.  Well our friends up on Capital Hill (who apparently are experts at finding ways to bleed more taxes out of us) are discussing a proposal that would end the stretch IRA’s for good.  As you read the well written article below by Michael...

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Making It Easier To Buy Annuities

Making It Easier To Buy Annuities

Just as the concern for baby boomers running out of income is a very hot topic here in America, the same problem persists in other parts of the world as well.  Perhaps even more so in regards to the education and awareness in some respects.  For instance, we have been following the “pension” and “annuity” related articles in England for the past year which vastly overshadow the amount of similar related articles in America.  It seems every day there is more evidence of groups pushing...

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Things to consider when you are choosing where to retire

Things to consider when you are choosing where to retire

If you’re getting close to retirement, the question always seems to come up of where the best place to retire is.  Are you going to stay in your house? Are there warmer climates that are calling your name?  We’re going to explore some things to consider when you’re making this important decision.  Let’s start with income considerations.  For a retiree, income comes in the form of pensions, IRAs, or money coming in from properties and investments.   The states with the highest income taxes are...

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