A favorite question clients like to ask is where the market is headed or where interest rates are headed. Clients want to know if it’s the right time to buy an annuity. Interest rates are still strong, and though the general consensus right now is that they are going down, it is important to remember that rates are influenced by an ever-changing mix of global events, economic indicators, central bank policies, and – what a year we have had so far – political tensions. So, if you are trying to predict the market or future interest rates to time your annuity purchase, you might as well pull out the tea leaves. As I explain in Q&A Friday: Where Are Interest Rates Going, if an annuity will contractually meet your financial needs for income or market protection, then it is the right time to buy.

‌If you are not ready for income and looking for market protection, then a MYGA may be your best option. Check out this week’s Shootin’ It Straight With Stan: 3 Years in or 3 Years Out for MYGAs. There are plenty of good options to protect your money, but generally, MYGAs have the best-fixed rates for periods between 3 and 10 years. You can also check out my calculators to see what rates are for all carriers.

‌Annuities are your safety net when you are in retirement and unsure if you can weather a bad market turn. Watch this week’s video: What Happens to an Annuity if the Stock Market Crashes. When you enter the decumulation stage of life, focusing on income goals can give you peace of mind. So don’t be afraid to take your chips off the table and enjoy the next chapter.

‌Not Trying to Beat the Market,

Stan