“Having a pet in retirement can be a source of joy. But, pets can also create financial stress. It’s a good idea to plan for pet ownership when you’re retired. -Lyle Boss Having a pet in your home as you age is something of a double-edged sword. On the one hand, a companion animal can […]
Many benefits annuities provide include at no additional cost or expense. Almost all new annuity contracts provide an immediate benefit. Is it income? Is it safe? Is it freedom from market risk? The answer to those questions is yes! Plus more. That’s the nursing home waiver. Annuity contracts have a provision that allows annuity owners […]
Every day I hear from those who come into my office four fears: 1. The fear of outliving my money 2. The fear of having to put off retirement 3. The fear of having to go back to work 4. The fear of having to cut back on my lifestyle These are genuine concerns and […]
There are a number of different choices you can make when setting up your income annuity. These choices will determine how much money you receive each month, how much you leave to your heirs, and other important choices.
Most investors only consider the risk to their principal, which is why they favor Certificates of Deposit over non-FDIC insured investments for their most protected assets. The risk of lost buying power is a more complicated dynamic. The dollar value of the principal stays the same, but a dollar buys less and less year after […]
I am continually mystified about how some professionals look at allocating retirement funds. In 1994, a system was created that became the industry standard regarding how to blend bond and stock percentages. The concept was simple, take 4% of the entire retirement account value annually and you will never run out of retirement income funds. […]
“Changing expectations of inflation may have your advisor recommending TIPS. But you should know they don’t work like conventional bonds and may carry more risk.” Lyle Boss What exactly are TIPS? Treasury inflation-protected securities (TIPS) are a security issued by the U.S. Treasury. TIPS are indexed to inflation to offer investors protection against a decline […]
Laddering is a strategy that spreads out the maturities of different fixed-income vehicles. Laddering is often used to invest in certificates of deposit and bonds but can also be an excellent way to maximize an annuity’s value. -Lyle Boss. Some seniors hesitate to add an annuity to their portfolios because they fear missing out on […]
“If you want to create a lifetime income stream from your fixed index annuity you can either take a lump sum payment or turn it into a series of payments using an income rider.”- Lyle Boss Annuities were initially created with only one option for lifetime payments. An annuity purchaser had to take their lump […]
“It’s fantastic if you inherit an annuity, but you need to understand the tax implications and how to make them more favorable.” –Lyle Boss You cannot escape taxes if you inherit an annuity. Fortunately, though, understanding how inherited annuities are taxed can help you avoid paying more in tax than necessary. Your beneficiary status and […]
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