James D. Kersey |
December 19, 2013 |
Annuity Basics, Annuity Taxes, Annuity123, Member Posts
In my 33 year career, my clients have always been inquisitive of the tax consequences of moving money from one account to another. As we review current and prospective clients’ annuity contracts and they come to realize that there may be a better solution, they all seem to want to know the answer to that all important question of “Will I pay taxes if I exchange my annuity for a better one?” My answer is always the same: “No!” Even though the IRS always seems...
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James D. Kersey |
December 18, 2013 |
Fixed Annuities, Index Annuities, Long Term Care, Member Posts, William Clay Tucker
Written By: William Clay Tucker, CAP, CMFC, CRPS in Canton, GA When does it make sense to own a Fixed Index Annuity (FIA) that provides an enhanced income payment for Long Term Care (LTC) needs? First of all, there is no replacement for a good LTC policy that covers 3-5 years of potential care needs with a Cost of Living Adjustment (COLA) applied to the benefit payment. The only reason not to have LTC coverage is if you are able to fully cover these costs...
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Jason Soloman |
December 17, 2013 |
Annuity Basics, Fixed Annuities, Index Annuities, Jason Soloman, Member Posts
The debate about fixed annuities has been going on for years. Some advisors/insurance agents will only sell indexed annuities to retirees; other advisors/agents won’t associate their name with such products. I on the other hand believe that for the right person, an indexed annuity could be a piece of a holistic retirement plan. Listed below are 3 reasons I like and hate indexed annuities. Things I love About Indexed Annuities 1. Income For Life People can bash the Social Security system all they want, but...
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Richard Ericson |
December 17, 2013 |
Long Term Care
I listen to you and what you want. There are two areas that I hear over and over again: Long Term Care and a safe investment that make more than 1%. Almost all clients I meet with want and understand the need for long term care. However, almost all the clients I meet with do not have long term care. The number one reason is, “what if I don’t use it”, or “I feel like I’m not getting anything for my premium.” At the same...
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Richard Ericson |
December 16, 2013 |
Annuity Basics
Written By: Matt Nelson – President of Income For Life LLC in Topeka, KS Think about this: What sort of chaos would there be across the nation without insurance products? For starters, there would be no sporting events on any level. There would be no workplace. There would be no manufacturing or industrial productivity without insurance. Without it, our economy would not prosper because no single person or business entity could afford to take on such liability exposure. With that said, it is important to...
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Howard Hafetz |
December 13, 2013 |
Annuity Basics, Howard Hafetz, Income Riders, Member Posts, Miscellaneous Annuity Info
There is a lot of marketing done that references various “returns”. Much of it is misleading at best and flat out incorrect at worst. Let’s try to make sense to all the rhetoric. Marketing, typically, is designed to generate interest in people that may be in the market for a product or service. It should capture interest by emphasizing the best attributes of the product or service. But, I am sure most would agree that, in many cases, it goes way beyond that. Have you...
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John P. Grimes |
December 13, 2013 |
Annuity Basics, Annuity123, John Grimes, Long Term Care, Member Posts
If you’re of a certain age like me, think AARP subscriber, then you’ve no doubt been bombarded by solicitations to purchase long term care insurance, LTCI. It really makes sense given that the chances of needing care at some point are better than 50/50 for most people. Do a little research and you’ll find it costs anywhere from $6K to $10K per month for a stay in an Assisted Living facility or Nursing Home. Given that the average stay in a nursing facility is 3-5...
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Keith L. Collins |
December 12, 2013 |
Annuity Basics, Annuity123, Fixed Annuities, Member Posts
For most retirees living on a fixed income, every penny counts. Unfortunately for them, every penny counts to the Internal Revenue Service too. There’s no arguing that taxes on social security are incredibly high. As a matter of fact, according to current tax law, up to 85 percent of a person’s Social Security income is taxable when their total ‘threshold income’ exceeds a set limit. What is threshold income? Threshold income is the government’s formula for determining how much of a person’s Social Security is...
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Keith L. Collins |
December 12, 2013 |
Member Posts
Written By: Ike Ikokwu, CFP, CPA, CTC, MSPFP in Atlanta, GA It’s an extremely exciting time to be an investor; that is, assuming you are currently invested in the market. As I write, yesterday, November 18, 2013, marked the first time that the DOW crossed 16,000. Not to be left behind, the S&P 500 also hit a major mile marker as well, crossing 1,800 for the first time. And the good news is that the party isn’t over, since it’s only the middle of November. ...
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Keith L. Collins |
December 11, 2013 |
Annuity Basics, Member Posts, Secondary Annuities
Written By: Larry Klein in Walnut Creek, CA There are 2 types of annuity buyers that end up with annuities they would like to sell (and you could be the buyer): Those people who buy immediate annuities and then later decide they desire the cash rather than monthly or annual payments over time Those people who get legal settlements in the form of an annuity and they prefer to have a lump sum of cash You can be the buyer of such “secondary annuities” and...
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