When is a Good Age to Consider Investing in An Annuity?

Annuities are designed as long term vehicles to be used later in life — at least until age 59 ½. To make annuity owners focus on their use later in life, the IRS imposes a 10% additional tax for any annuity accessed before that age minimum of 59 ½. The tax is in addition to any income taxes which may also be due on a pre-59 ½ distributions.

By |2015-05-22T06:38:25+00:00December 16th, 2013|Annuities|

Top 4 Annuity Scams – Here’s What to Look For To Protect Yourself

All annuity companies offer a “free-look” period where you may return the annuity for any reason and receive a full refund. Make certain you fully understand your rights and options when you purchase an annuity, your agent or the insurance company will help you. That being said, there are scams with annuities just as there are with almost any product being sold to the public. Here are some to be aware of.

By |2015-05-22T06:45:13+00:00December 6th, 2013|Annuities|

My Least Favorite Annuity

Variable Annuities are my least favorite of the annuity types. They once served a purpose in the 1980s and 1990s when the stock market was thriving for a longer period than normal, and for high-end earners a good place for non-qualified tax deferred savings. But now, in the current world market, I consider them the least effective annuity, especially for retirement income planning.

By |2017-11-20T18:05:40+00:00December 2nd, 2013|Annuities|