With a seemingly endless parade of insurers offering a never-ending selection of annuities, shopping for income annuities can be a daunting process. Many baby boomers planning for retirement become overwhelmed and succumb to pressure to buy an annuity that pays less than a competitive amount. Potentially leaving money on the table leaves retirees with feelings of apprehension, which is the exact opposite of why most people buy annuities––for the peace-of-mind they can offer.
There is no reason a retiree should ever find themselves in this position. By asking three straightforward questions, annuity purchasers may assure themselves that they are getting the best deal possible. Read More
Annuities are more popular than ever and it’s fixed index annuities that are leading the pack.
Dynamic growth propelled the annuity industry in 2014, according to Annuity News, with fixed index annuities (FIAs) emerging as the number one retirement savings vehicle for thousands of soon-to-be retired folk. Showing no signs of slowing in 2015, FIAs are expected to benefit from several trends, which are creating an optimistic landscape for annuity purchases dominated mostly by baby boomers and, believe or not, GenXers. Read More
“Consumers are practically bombarded with annuity marketing these days. Retirees need to know a retirement income plan is about much more than a flashy interest rate. Get the facts, and work with an expert who truly understands the nuances of different annuity plans and which plan best fits your retirement income goals.” – Cathy DeWitt Dunn, the Annuity Expert
With about 200,000 Americans retiring each month, and that number increasing as baby boomers age, it’s no wonder annuity advertising has increased sharply in the last few years. Most of that advertising highlights attractive guaranteed interest rates and lifetime income. Though it isn’t usually disclosed in ads, these features come packaged in income riders. In order to understand the real value of these products, you first have to understand the two types of income riders. Read More
According to the Pew Research Center, 10,000 Baby Boomers will reach the retirement age of 65 every day until 2030. However, seniors are living longer lives than when the retirement age was set in the 1930’s.
When social security was implemented, the average life expectancy for men was 58 and 62 for women. Today, that average has risen to 76 for men and 81 for women and yet the retirement age remains at 65. The question that must be asked is will your retirement savings last throughout your retirement years? Read More
New Allianz Life Survey Finds Boomers Ages 55-65 Prefer Protection over Returns, but only One Quarter Currently Own Annuities
MINNEAPOLIS–(BUSINESS WIRE)–Despite the market’s recent strength, Transition Boomers, those ages 55 to 65 closing in on retirement, resoundingly said they would protect their retirement savings with a guaranteed return rather than chancing a loss in the market, according to the 2013 Transition Boomers and Retirement Income survey* from Allianz Life Insurance Company of North America (Allianz Life®). Read More
Hitting that century mark or even living well into our nineties is hard to fathom––so much so, that a lot of us are guilty of just ignoring the “what ifs” of making it that far in life. However, for women, facts show that we ARE living longer and longer. This is great news but living longer may create some pretty severe financial challenges. It’s a smart idea to put a solid long-term care plan in place, either by saving for it or through insurance planning … the sooner, the better. Read More
While some financial advisors may tell you that you’ll probably be spending less money in retirement than what you’re spending now, we don’t believe it. We think this is a myth…and we want to make sure you’ve got an income plan in place that allows you to continue to live the lifestyle you want to live.
When you look towards your retirement years, do you want to:
1. Spend less … or comfortably maintain the lifestyle you’ve worked so hard to accomplish?
2. Travel less … or have the freedom to just pick up and go?
3. Be less active … or tick off “to-dos” on your bucket list? Read More
According to the Government Accountability Office (GAO), a husband and wife both aged 65 have approximately a 47% chance that at least one of them will live to his or her 90th birthday and a 20% chance of living to his or her 95th birthday. As life expectancy continues to climb, the fear of outliving one’s assets has become top-of-mind for most Americans. Today, it’s becoming more important than ever to put retirement strategies in place that guarantee lifetime income. Read More
Safe Money Talk Radio’s Cathy DeWitt Dunn explains the advantages of a fixed index annuity for the Baby Boomer generation.
As baby boomers plan their retirement, they need to begin moving their money from risk to safety. They need high interest rates on their money; however, interest rates on fixed rate annuities are at the lowest in U.S. history. Read More
With interest rates as low as they have been, buying an annuity now that pays a guaranteed 8% compounded rate of return sounds pretty good…on the surface. If you are looking for a guaranteed, static annual income –– that will never grow over time –– one of these plans may be right for you. But, maybe not. Read More