Using a Fixed Index Annuity as an Income Planning Strategy
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- Опубликовано: 27 авг 2024
- Having a Fixed Index Annuity as an overall Income Planning Strategy can be a smart move, especially when the market is down and you're having to withdraw funds from your investment accounts.
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In this episode, Jessica explains how a fixed index annuity can be used as an income planning strategy when you are in retirement.
#retirementplanning #core4 #jessicacannella #investmentmanagement
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More about Jessica Cannella, Co-Founder and President:
As the Co-Founder and President of Oak Harvest Financial Group, Jessica’s mission is clear. Educate, inspire, and financially prepare couples and individuals to enjoy a fearless and fulfilling retirement. With almost two decades of experience in retirement planning, Jessica’s objective is to alleviate the stress around investment management and financial planning.
Jessica engages all levels of financial savvy, from the novice to the expert. She believes that clarity begets confidence. She has worked with hundreds of families to cultivate a retirement vision and connect their unique vision to their customized financial plan.
No two plans are identical. A financial plan is a starting point, a path to start down. However, life can throw curve balls. Therefore, every plan we put together needs flexibility. Communication and mutual understanding are the corner stones of bringing your retirement vision to reality.
"Think of my team and I as the bumpers at a bowling alley; think of yourself as the bowling ball. Our purpose is to keep you out of the gutter and hitting strikes in retirement" Jessica Cannella.
Very well explained, I just turned 63 , my financial advisor said I can retire in march 2023 , 40 years working for same company,
Good presentation about using the Fixed Indexed Annuity instead of bonds. There are no fees to invest or volatility with this type of annuity which I like.
Invest in the stock market yourself...you can then liquidate ANYTIME you want...unlike annuities
How did you account for inflation, while in a down market ... and taxation? Ignore long-term care risks? I know. Just an illustration visit with your advisor.
I know this example is for illustration purposes but I would find it hard to believe that the FIA would be up $50k when the stock & bonds portions are down $125k.
Correct. Also taking 10% out of your FIA, perhaps without penalty, reduces the eventual guaranteed income it could produce for you. It's a bad " general example" that was not thought through enough ahead of time. I feel Troy is a better presenter and teacher.
I would never take money out of an ira or 401k to buy any type of annuity. The expenses are usually very high. The money is already protected from taxes in your qualified plans. It’s like wearing not one but two raincoats in a rainstorm.
Also keeep in mind the high commissions salespeople make selling annuities. Why do you think the have those free retirement dinners.
Are you referencing "high expenses" in annuities. Which annuity are you addressing as having high expenses?
A. Fixed annuities
B. Fixed indexed annuities
C. Variable annuities
D. Another form of annuity
What do you suppose those expenses to be?
Also, you reference "high commissions"... what do you suppose those commissions to be ...
A. 10% annually
B. 12 -15% annually
C. more than 15% one time on gross initial premium, and less than 15% on subsequent premiums annually.
It's okay if you really don't know and that you are just regurgitating your gurus rhetoric... just say so.
Also, you reference the 401K and qualified plans already being tax protected ... what exactly do you mean by them being "tax protected?"
Luv it! Hope my advisor is aware, since u all have a minimum to be considered a "good fit". Thanks again for the superb education!
Run!! Read the link I left above. These instruments have such a bad reputation that they changed their name a few years back
The name was changed because the term “Equity” implies they are a security. FIAs are not, they are insurance.
This is a big money maker for them..for you not so much..just try to get out of this..it will really cost you dearly
Mutual Funds, Money Under Management Fees, and Brokerage accounts are a Bigger money maker for Wall Streeters, and Wall Street has no product that guarantees NO Loss in your investment. This is also a No Fee product. Don't drink and type, Boomer.
So many poor assumptions not listed. Try again, maybe I will watch. Maybe not