Addressing Common Annuity Myths: Part 2

Written on .

Believing annuity myths and lies can keep you from exploring advantageous financial opportunities.

Learn the Truth to Optimize Your Retirement Income Plan

The following educational content is excerpted from our book, Momma’s Secret Recipe for Retirement Success,” by Dan Ahmad, Jim Files, and Jack Canfield, with valuable contributions from other leading professionals from around the world. This excerpt was contributed by John Kirker, fiduciary financial advisor, and reviews eight more annuity myths and lies – specifically, annuity lies people believe about fixed index annuities with income riders.

This is Part Two of our two-part Annuity Myths series.

Today we’re back with more facts about annuities. Specifically, we’re sharing content to bust common annuity myths and lies that can damage your long-term finances if you believe them. Remember, it’s always important to educate yourself, do your own research, and speak with a financial professional you trust when you’re trying to determine whether a specific financial product is right for you. Many people find more peace of mind and financial security with a fixed index annuity with an income rider, so learn more about their benefits below.

Continue reading

Addressing Common Annuity Myths: Part 1

Written on .

Clear up confusion with the the real information you need to dispel these common annuity myths.

Setting the Record Straight on Fixed Index Annuities with Income Riders

The following content is excerpted from the book, Momma’s Secret Recipe for Retirement Success,” by Dan Ahmad, Jim Files, and Jack Canfield, with valuable contributions from other leading professionals from around the world. This excerpt was written by John Kirker, fiduciary financial advisor, and reviews ten common annuity myths – specifically, annuity lies people believe about fixed index annuities with income riders.

This is Part One of our two-part Common Annuity Myths series.

If your goals are to:

  1. Protect your money against 100% of all stock market losses.
  2. Guarantee you won’t run out of income for as long as you live.
  3. Receive the same or higher income for as long as you live regardless of stock market volatility or how long you live.
  4. Pay a relatively low total annual fee of approximately 1%.
  5. Have the opportunity to earn a competitive rate of return.
  6. Defer 100% of the taxation on any growth until you take distributions.
  7. Never subject current or previous gains to future stock market losses.
  8. Pass 100% of all remaining funds at your death to your beneficiaries.

One of the only, if not the only, financial instruments you can use to do all of these things is a fixed index annuity with an income rider.

Continue reading

How Do You Set Up a Fixed Index Annuity? (And What Do You Get Back?)

Written on .

Use this guide to set up a fixed index annuity and solidify your retirement income and financial security.

Understanding More About Fixed Index Annuities with Income Riders

There is one key reason why people say they decide not to purchase a fixed index annuity with an income rider as part of their overall retirement income plan – and it’s not because of surrender charges, fees, or lower returns. In fact, it’s often because the benefits of a fixed index annuity with an income rider may simply sound too good to be true. Of course, the contractual benefits are NOT, and you can read more about that here if you need a refresher.

So, let’s assume you’re ready to move forward with your fixed index annuity with an income rider – where do you start and how, exactly, does it work? We’re here to walk you through it.

Continue reading

Is a Second Opinion the Next Step to Enhance Your Financial Security?

Written on .

Gain greater financial security by securing a second opinion on your retirement plan from a professional financial advisor.

When You’re Retired, You Need to Be Sure Your Finances Are on Track

With the articles we publish here on our blog, many of which are based on content in our book Momma’s Secret Recipe for Retirement Success, we hope to take you down the path of “financial enlightenment.” We do it because some of the facts and strategies we share may be the complete opposite of what you have been told before. We want you to think differently – and to plan your retirement differently – because you have no other option than to succeed.

Continue reading

The Retirement Income Myth You Should Stop Believing

Written on .

Sequence of return risk could spell retirement income insecurity, but a fixed indexed annuity with an income rider is one possible solution.

Understanding Income Riders and Sequence of Return Risk

This content is an excerpt from the book, Momma’s Secret Recipe for Retirement Success,” by Dan Ahmad, Jim Files, and Jack Canfield, with contributions from other leading professionals from around the world. This excerpt below was written by Dave Lopez, a recognized retirement planning speaker and writer.

Myth:

You shouldn’t buy an annuity because the stock market is the best place for you to invest for dependable retirement income that will last for as long as you live.

You are retired and want a high level of dependable income from your savings that is guaranteed to last for as long as you live. You research on your own. You talk to your Advisor. You even ask friends and family what to do, because you desperately want to know the truth about how to protect your principal and guarantee you won’t run out of income late in life.

Continue reading

Section Four of Your Comprehensive Written Retirement Income Plan

Written on .

The fourth part of your comprehensive written retirement income plan is to get your plan details in writing.

It’s Time to Get Your Plan Details in Writing

In recent weeks, we have shared the first three steps in creating a written comprehensive retirement income plan. If you haven’t yet read about those steps, we recommend you head over to our blog to get caught up.

In this fourth and final installment, we are sharing the fourth step in this planning process, which is getting your plan details recorded in writing.

Continue reading

Section Three of Your Comprehensive Written Retirement Income Plan: Analysis of Assets

Written on .

When you plan ahead, you can use your assets to produce both income and a legacy for your loved ones.

It’s Time for an Analysis of Assets to Beneficiaries 

In past articles, we shared everything you need to know about the very first step in creating a comprehensive written retirement income plan: the Retirement Income Projection. Next, we discussed the second step in your planning, the Income Tax Analysis. If you didn’t get a chance to read those articles yet, you can start here.

In this final installment of this series, we give you details about the third step in your comprehensive written retirement income planning: an analysis of assets to beneficiaries. Having a comprehensive written retirement income plan you can rely on is incredibly important to your financial health in retirement, so let’s take a look at this final step.

Continue reading

Continue reading

Section Two of Your Comprehensive Written Retirement Income Plan: Income Tax Analysis

Written on .

The second part of your comprehensive written retirement income plan is an income tax analysis.

How to Eliminated Your Fears of Paying More Than You Expect to In Taxes

In three previous articles, we discussed all the details of the very first step in creating a comprehensive written retirement income plan: the Retirement Income Projection. If you didn’t get a chance to read it yet, you can start here. Now, we move on to the second step in your planning, which is the all-important Income Tax Analysis.

Why are we continuing to discuss this topic? Because having a comprehensive written retirement income plan is just that important!

Continue reading

Continue reading

Should I Hide My Money Under the Mattress or Trust an Insurance Company?

Written on .

A life insurance company offering a fixed index annuity with an income rider offers additional security.

Why No Other institution can match the Safety of the life insurance industry

The following is an excerpt from the book, Momma’s Secret Recipe for Retirement Success, by Dan Ahmad, Jim Files, and Jack Canfield, with contributions from other leading professionals from around the world. This excerpt was written by Laura Barron, president and co-founder of Barron Financial Group, LLC.

Hypothetical Case Study: Twenty years ago, Sarah and Mark were 55 years old as they reviewed their plans for retirement. They both had done an excellent job accumulating assets of well over a million dollars. Mark felt confident they could trust the expert advice of their broker at a large firm to continue making money for them in mostly stock market investments during retirement. Sarah and Mark were very confident the income from their stock market investments, Social Security, and a small pension would allow them to self-insure for long-term care, stay fully invested in the market, and live a very comfortable retirement in a nice neighborhood. They were totally confident they would never run out of money.

Continue reading

Continue reading

Your Retirement Income Projection Part 3: Fee Analysis

Written on .

Fee analysis is an important part of your retirement income projection and here’s what you need to know.

Do You Know How Much You’re Shelling Out in Fees?

This article is part three of a three-part series in which we dig deeper into the first aspect of preparing your comprehensive written retirement income plan: the retirement income projection. This series is based on content that originally appeared in our book, Momma’s Secret Recipe for Retirement Success, and you can grab your copy here.

If you need to start at the beginning of this three-part series, click here now.

In our second installment, we shared details on the second step in developing your comprehensive written retirement income plan, which is a risk analysis. As a reminder, this series is all about completing the three aspects that makeup step one in our four-part process of completing your Retirement Income Projection:

  1. Income analysis
  2. Risk analysis
  3. Fee analysis

In this article, we’ll walk you through the fee analysis step.

Continue reading

Continue reading