Some nerves were recently rattled when the Dow Jones Industrial Average (DJIA) declined 2,052 points, or 7.6%, in six trading sessions, going from a high of 26,952 on October 3rd to a low of 24,900 on October 11th. The loss increased to 2,830 points, or 10.5%, when the DJIA hit a low of 24,122 yesterday…
An important, although unplublicized, benefit of fixed income annuities is protection against elder fraud.
A Tax Credit Longevity Annuity Plan, or TCLAP, would create tax-favored private pension plans while also providing for long-term care benefits.
If you have a sustainable income need and it isn’t immediate, one or more nonqualified deferred income annuities can provide a unique tax-favored solution.
Fixed income annuities can be purchased in retirement plans to provide sustainable lifetime income that can better meet one’s retirement needs than unpredictable and fluctuating required minimum distributions, or RMDs.
The basic purpose of a retirement income plan is to develop tax-efficient strategies that are designed to provide predictable income streams to meet an individual’s or family’s financial needs during different stages of retirement. A comprehensive plan should also include provisions for addressing potential life-changing experiences. One such event that’s generally associated with the latter…
With the Dow Jones Industrial Average (DJIA) crossing the elusive 20,000 barrier last Wednesday for the first time, a lot of people are excited about investing in the stock market. Never mind the fact that the DJIA has tripled in price from its low of 6,470 on March 6, 2009, increasing at a mind-boggling average…
When you retire, how would you like to receive monthly income that provides the following eight advantages:? Lifetime payment Annual increase of 8% for each year that you wait to receive it up to 32% if you wait four years Potential annual cost of living adjustment (COLA) 15%, and possibly 50% or 100%, federal income tax…
With the Summer Olympics in Rio de Janeiro underway, sports are on my mind. There’s an unlevel playing field in the retirement planning world. Forgetting about defined benefit plans which are in a league of their own, 401(k) plans are the clear favorite for employees who want to save for retirement. 401(k) participants enjoy a…
Single premium immediate annuities (SPIAs) and deferred income annuities (DIAs) are often used to provide sustainable lifetime income to replace a portion of employment income in retirement. Both are tax-favored when nonretirement funds are used to purchase them since a portion of each income payment is a nontaxable return of principal. The primary difference between…
When I think about and evaluate insurance riders for my clients, I look at the potential value my client will receive from adding one or more of them to a particular insurance contract. Insurance riders are optional benefits that aren’t included in the basic policy that may be purchased at additional cost. A rider typically provides…
If you’re planning for retirement and you want to receive sustainable lifetime income beginning at a future date, deferred income annuities (DIAs) and fixed index annuities (FIAs) with income riders are potential suitable choices. These are the two types of deferred fixed income annuities that are sold by life insurance companies. The question is which…
Deferred income annuities, or DIAs, are one of the two types of deferred fixed income annuities sold by life insurance companies, the other being fixed index annuities, or FIAs, with income riders. DIAs are the simpler of the two products to understand and are often the most suitable choice in many situations. A DIA is…
Although the Dow Jones Industrial Average (DJIA), with its close of 16,472 on Friday, is up 1,000 points from its August 24th low of 15,370, it’s still down almost 2,000 points, or 10%, from its May 19th high of 18,351. Putting things in perspective, a 10% decline is an overdue correction given the fact that…
I was recently asked by CNBC personal finance writer Tom Anderson, who was writing a story on qualified longevity annuity contracts, or QLACs, “What are the biggest mistakes clients make when buying QLACs?” My answer, which was quoted in Tom’s September 9th An Option for Those Who Fear Outliving Their Money article, was not purchasing a…
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