Annuities Explained

5 Medicare Enrollment Tips to Ensure You’re Not Left Behind

Medicare provides health insurance to people aged 65 or over, as well as to some younger people who have disabilities. Enrolling in medicare can give you affordable access to healthcare, which means you won’t have to run down your retirement savings paying for expensive medical treatments. By following the medical enrollment tips given here, you… Read more »

Are Annuities Coming to Your 401K?

Many “silent generation” retirees combined a pension with Social Security to live comfortably through their twilight years. This pairing of what amounts to two annuities provided steady and predictable incomes that people could not outlive. But in 2015, this formula isn’t so available anymore. Private sector companies began gradually moving away from pensions in the… Read more »

What are your chances of running out of money at age 85?

I worked a general election as a poll worker. It’s a “job” I took on a few years ago to satisfy my curiosity about the election process, and make some bucks at the same time. After a couple of elections, they moved me to a polling place in a retirement community where staffing was low.… Read more »

What Does the Fiduciary Rule Mean for Annuities?

The Department of Labor is expected to spend 2016 trying to get its fiduciary-only rule implemented before President Barack Obama leaves office. And annuities are right in the cross-hairs of the new rule. If it takes effect, the fiduciary standard would apply to anyone handling funds within a qualified retirement account. It would replace the… Read more »

Annuity Terms to Know

1035 exchange The tax rule allowing a consumer to switch between one annuity to another on a tax-free basis. Early surrender charges still apply, but the client might find the benefits offered by another annuity more valuable than their current annuity. Example: “Yes, we can move money from your current annuity to the one we… Read more »

Washington’s Attitude on Annuities?

When Social Security passed in 1935, it became the largest annuity in U.S. history. In 2013, total Social Security expenditures were $1.3 trillion, or 37 percent of the $3.7 trillion in federal expenditures. Just like many annuities, Social Security guarantees you a monthly payment until death. With millions of baby boomers advancing into retirement age,… Read more »

Social Security – Will it Survive?

Social Security is the dominant source of income for people in retirement. Since issuing its first $22.50 check to Ida May Fuller in 1940, the program has supported millions of retirees in their golden years. But will Social Security be there when you retire? Many observers have their doubts, including the agency itself. In its… Read more »

Carnegie: Funding a Legacy

Andrew Carnegie was a man who knew hard work. A poor Scottish immigrant, he started with nothing, working for $2.50 a week at his first job. Decades later, Carnegie retired as one of the wealthiest men in the world. And Carnegie believed in annuities so much he donated millions to create an annuity fund for… Read more »