According to LIMRA, annuity sales are on the rise yet again this year, after also breaking records last year. Investors building their retirement strategy looking to mitigate some risk have chosen to lock-in annuities–How smart is this choice? Well, there’s definitely a reason they’ve been selling recently. Reach out to us to learn more about this product, and what it may be able to do for your retirement strategy. We’re always here to help.
We’ve previously discussed different types of scams you should be looking out for. This week, we wanted to bring yet another one to your attention. You might get an email claiming to be from someone with the Social Security Administration, a message along the lines of “Due to suspicious illegal activity detected during our investigation, we’ve found it necessary to temporarily suspend your Social Security Number.” Following this may be a Case ID number with the letters “SSA” preceding a series of numbers, and then an attached letter that appears to be on Social Security Letterhead. Emails like this are,
Did you know that the older you are, the more susceptible you are to telephone or internet fraud? One of the most common tricks scammers use is impersonating a child or grandchild, asking you for financial assistance. According to the FBI, Americans lost over $10 billion to scams last year. While people in their 30s filed the most complaints, seniors are the most susceptible: last year they lost $3 billion. Con artists can be very convincing: We recommend asking them questions only that family member would know (and nothing a scammer could find online) or even giving your family members
The average age at which one buys an annuity is their early 60s, with the majority of annuities purchased by individuals between ages 55–70. According to Oxford Economics, the U.S. population aged 65 and up is expected to grow by more than 8.3 million from 2022 to 2027, and so the number of individuals buying an annuity is similarly expected to grow. Why? While there are multiple reasons, the two most essential are how important it is to have a product with protection features, and how important it is to have a product that can provide a stream of income
