Get Smarter

Let’s take a look at why Republicans love annuities. We each have our own opinion when it comes to politics, but no matter if you're a Republican or a Democrat, there are reasons to love annuities and believe it or not, some common ground.

Annuities, they are contracts issued by life insurance companies. So, when someone asks me “How do annuities work?” it really depends on the type of annuity contract you are referring to. Most annuity types are designed for lifetime income, while others solve for principal protection, CD returns, and one type is structured for market returns.

The focus tends to shift from market growth to income with a demographic tidal wave of people reaching full retirement age every single day. Increasing your retirement income becomes the top personal finance goal for any long term financial plan.

The Secure Act (aka The Secure Retirement Act) was signed into law on December 20th, 2019. The primary government intention was to encourage Americans to start planning for their own retirement income needs. 2 Words Matter...Lifetime Income

Since I am licensed in all 50 states, I get a ton of calls from across the country with the following question, “Are Fixed Indexed Annuities a good investment and do they really get stock market returns?

There are many types of fixed annuities.

There are over 10,000 baby boomers reaching retirement age every single day, and many are faced with the decision to take a lump-sum dollar amount or an annuity payment from their employer.

A retirement annuity can be multiple types of annuities. I think most people when talking about a retirement annuity, they're talking about a lifetime income stream. An immediate annuity, a deferred income annuity, or qualified longevity annuity contracts. Something that's going to create a pension type income stream.

You may want to buy a MYGA if you're looking to protect your principal, not pay any fees annually, there are no moving parts, there are no market attachments, you're just going to get an interest rate contractually for the specific period that you choose.

Over 10,000 Baby Boomers are retiring every single day and millions more already enjoying their retirement years. Over 10,000 Baby Boomers are retiring every single day and millions more already enjoying their retirement years. Because of this, older adults are too often the targets of annuity salespeople. Annuities are not for everyone.

“Retirement Income” might be the two most important words to the 10,000+ baby boomers that reach retirement age every single day. For the people that plan to retire soon or in the future, Retirement Income is a focus and the ultimate goal for most hard-working Americans.

There's only one reason that someone would 1035 exchange their policy. It's if the policy that they're going into is better contractually than the one that they're leaving. It's that simple.

To answer that question, I need to know some information. First, you're going to have to tell me what you're trying to achieve and then we're going to get to the specific product types.