John P. Grimes |
February 11, 2014 |
Annuity Basics
If I had a dollar for everyone who told me that, I’d be writing this on the beach in Jamaica instead of in my office looking out at the foot of freshly fallen snow. We all know the reasons why consumers don’t buy annuities; you have to give up control of your money, if you die before you spend it the insurance company keeps your money, there are too many hidden fees, the brokers who sell them can’t be trusted and on and on. Fortunately,...
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John P. Grimes |
January 15, 2014 |
Annuity Basics, Annuity123, Income Riders, Index Annuities, John Grimes, Member Posts
We’ve all heard the expression ‘have your cake and eat it too’. It’s a pretty simple dilemma; if you have your cake and eat it… then it’s gone. If you don’t eat the cake, you still have it but don’t get to enjoy it. Wouldn’t it be nice to have it both ways? It’s like being rewarded without taking any risk or getting something nice without having to pay for it. So you’ve done some research about fixed indexed annuities and you find there are...
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John P. Grimes |
January 7, 2014 |
Annuity Basics, Annuity123, Index Annuities, John Grimes, Member Posts
The short answer is; I don’t know… but I wish I did! Before you give up on me and keep searching, hear me out. If I knew with certainty the answer to that question, I would devote 100% of my energy and money to playing the stock market because I would know the direction and amount of volatility to expect in the future. Of course that’s not possible so we have to make our decision based on what we do know. Let’s take a step...
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John P. Grimes |
December 26, 2013 |
Annuity Basics, Annuity Bonuses, Annuity Caps, Annuity123, Index Annuities, John Grimes, Member Posts, Payout Factor
In the years before Indexed annuities were offered (pre 1995), fixed annuities had only one rate you needed to know to compare policies; the fixed interest rate. Assuming the companies had similar financial strength ratings it was pretty easy to pick the best annuity for your needs: Who was offering the highest interest rate? Fortunately (or unfortunately if you long for simpler times), annuities today come with many moving parts. Riders that provide guaranteed lifetime income, long term care benefits and enhanced death benefits are...
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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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John P. Grimes |
November 22, 2013 |
John Grimes, Member Posts
Before I answer that question, let’s take a minute and reflect on what it took to get to this point in your life assuming you’re already retired or about to be retired. If you’re like most people, you’ve worked hard over the last 40+ years to be able to retire. You competed to get that first job, worked hard to advance in your career, having to learn new skills and technologies along the way to keep up. You started and raised a family with all...
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