Thanks a bunch Sir. Very precise and to the point presentation with comparative charts. I wasted hours in watching content to find answers to my simple question and none found. You answered in few minutes.👍
There is a big difference in Bank Cd's and Brokered CD's.. Mainly the amount of interest you will receive. I won't buy a bank cd. Also you should talk about Callable and Non-Callable CD's. I just got a 1 year non-callable CD that is paying 5.35%. I have a couple of Annuities too!
Great content thank you very much. One question on the 10% withdrawal is that of the whole balance or just of the interest or just the initial investment?
@@PlanningBeforeInvesting so the client pays no money toward fees or commissions? Do u only get installed payments at the end or a lump sum of your original investment plus interest?
@danielleg2616 the broker gets his commission from the insurance company. You get the fixed rate you agreed to for the entire term. CDs and annuity rates will be creeping g down the next few years. Best to lock in a 5% annuity fixed term only. With return of premium.
I love MYGA's, but you Should have mentioned the down side.. LIKE huge surrender charges vrs a few months interest penalty on a CD.. AND MVA adjustments to the amount you can take out before maturity.. and you failed to mention one Big advantage is the interest is TAX deferred until maturity.. even longer if you roll it over into another MYGA.
These are the same as banks and their CD’s. Commissions are usually 1-3% but are paid from the insurance companies’ money not yours. Thanks for watching!
No one says you can’t get compound interest from a CD. Until recently, virtually all CD’s were simple interest. Still today, by default, they are simple interest unless they say otherwise. Thanks for watching!
@@PlanningBeforeInvesting That was definitely a great video you put up, thank you! When my CD’s mature, I’m going to look into the fixed annuities as they seem to have a higher rate.
I could tell all he wanted to do was sell annuities right off the bat. Answer this dude, what are the fees for annuities versus CDs? Huge difference! Annuities are expensive because of the huge sales commissions. Most banks compound the interest and if you invest the interest, voila, compounding! Finally, if you die, you may well get less than you paid for the annuity. The CD is always there for your heirs. If you hear the word, annuity, run!
Hi Doug, thank you for watching and it seems your understanding of annuities is very jaded. If you keep watching more of our videos, you will quickly see I am not an annuity salesman. As a fiduciary, I am dedicated to education and strive to combat the misinformation out there. NOT ALL annuities have fees nor do they all have big commissions. Feel free to contact me directly if you would like any further clarification on annuities or any other aspect of wealth management. I am happy to help!
@dougprw1110 I have a couple of 5 year fixed index annuities and both have guaranteed death benefits for my wife. So not sure where you got your information. I am not interested in a MYGA Annuity because of the loss potential like you can get from the stock market. I am also not paying huge fees for having them. One of them just finished it's first year and has made me a good return because it is based on the S&P 500.
Yes, Fixed and Fixed-Indexed annuities are real and can be very useful in portfolios as a replacement for bonds, bond funds, and CD’s. They are much more investor friendly with no risk by regulation and typically no fees.
Correct with regard to fees. They are fundamentally the same investment as a CD, just with an insurance company. The full account value is available at the end of the term which is the amount you put in, plus interest, minus withdrawals along the way.
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Excellent and informative video… thanks!
Glad it was helpful!
Thanks a bunch Sir. Very precise and to the point presentation with comparative charts. I wasted hours in watching content to find answers to my simple question and none found. You answered in few minutes.👍
You're most welcome!
Yeah, the content creators like to control the conversation.
There is a big difference in Bank Cd's and Brokered CD's.. Mainly the amount of interest you will receive. I won't buy a bank cd. Also you should talk about Callable and Non-Callable CD's. I just got a 1 year non-callable CD that is paying 5.35%. I have a couple of Annuities too!
Yes, stay tuned...! And thanks for watching!
Very helpful. Thank you!
Glad it was helpful!
thanks for the video. 1 more positive of the myga is that they are tax deferred.
Seems a lot better than the index annuity. 3 years zero%
Great content thank you very much. One question on the 10% withdrawal is that of the whole balance or just of the interest or just the initial investment?
Hi there - great question. Typically 10% of the full account value at each anniversary. Thanks for watching!
Excellent video sir. Great info. If I purchased a $100K in a MYGA product from you what are the fees involved? Thank you.
Hi Steve! Fixed annuities pay a flat small commission from the insurance companies' money, so we do not charge fees for this.
@@PlanningBeforeInvesting Thanks!
@@PlanningBeforeInvesting so the client pays no money toward fees or commissions? Do u only get installed payments at the end or a lump sum of your original investment plus interest?
@danielleg2616 the broker gets his commission from the insurance company. You get the fixed rate you agreed to for the entire term. CDs and annuity rates will be creeping g down the next few years. Best to lock in a 5% annuity fixed term only. With return of premium.
1. FDIC insurance
2. NO FEES
Did I mention NO FEES.
I love MYGA's, but you Should have mentioned the down side.. LIKE huge surrender charges vrs a few months interest penalty on a CD.. AND MVA adjustments to the amount you can take out before maturity.. and you failed to mention one Big advantage is the interest is TAX deferred until maturity.. even longer if you roll it over into another MYGA.
What about commissions?
These are the same as banks and their CD’s. Commissions are usually 1-3% but are paid from the insurance companies’ money not yours. Thanks for watching!
I have a fixed annuity and I neeed caaash nooow
Who says you can’t get compound interest on a CD? I have two CD’s at 5.5% APY
No one says you can’t get compound interest from a CD. Until recently, virtually all CD’s were simple interest. Still today, by default, they are simple interest unless they say otherwise. Thanks for watching!
@@PlanningBeforeInvesting That was definitely a great video you put up, thank you! When my CD’s mature, I’m going to look into the fixed annuities as they seem to have a higher rate.
Happy to help whenever you're ready. :)
What about FDIC?
I could tell all he wanted to do was sell annuities right off the bat. Answer this dude, what are the fees for annuities versus CDs? Huge difference! Annuities are expensive because of the huge sales commissions. Most banks compound the interest and if you invest the interest, voila, compounding! Finally, if you die, you may well get less than you paid for the annuity. The CD is always there for your heirs. If you hear the word, annuity, run!
Hi Doug, thank you for watching and it seems your understanding of annuities is very jaded. If you keep watching more of our videos, you will quickly see I am not an annuity salesman. As a fiduciary, I am dedicated to education and strive to combat the misinformation out there. NOT ALL annuities have fees nor do they all have big commissions. Feel free to contact me directly if you would like any further clarification on annuities or any other aspect of wealth management. I am happy to help!
@dougprw1110 I have a couple of 5 year fixed index annuities and both have guaranteed death benefits for my wife. So not sure where you got your information. I am not interested in a MYGA Annuity because of the loss potential like you can get from the stock market. I am also not paying huge fees for having them. One of them just finished it's first year and has made me a good return because it is based on the S&P 500.
Yes, Fixed and Fixed-Indexed annuities are real and can be very useful in portfolios as a replacement for bonds, bond funds, and CD’s. They are much more investor friendly with no risk by regulation and typically no fees.
@@guzzi95is yours fixed index? Do you get all of your money plus interest in a lump sum or just installment?
Correct with regard to fees. They are fundamentally the same investment as a CD, just with an insurance company. The full account value is available at the end of the term which is the amount you put in, plus interest, minus withdrawals along the way.