Types of Annuities: A Rundown

December 10, 2023

We’ve been asked what a variable annuity and a fixed annuity are. What are the differences between them? Essentially:  A variable annuity’s value is based on the performance of a portfolio of sub-accounts; it offers the opportunity for higher returns and greater income than a fixed annuity, but there’s also a risk that the account will fall in value if there’s a market downturn.  A fixed annuity, meanwhile, pays a specifically set, guaranteed interest rate on the account owner’s contributions. While you are guaranteed to receive income from it, a fixed annuity’s rate of return may be disappointing in comparison

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Don’t Take the Bait

December 3, 2023

In 2022, social media-based scams cost Americans a total of $1.23 billion, a 54% increase since 2021, according to the Federal Trade Commission.  Typically, these sorts of scams start with someone claiming to be a mutual acquaintance of someone you know, or relative. Then, they either ask for financial assistance, or claim they can offer you help, such as providing a “new investment opportunity.” If you’re approached by someone online with an offer that seems “too good to be true,” it very well might be. 

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Paying For MEdicare

November 13, 2023

Friends and colleagues who are approaching 65 are beginning to ask about Medicare benefits. Not just how to sign up, but what to select from among the various choices. The good news is, 94% of Medicare beneficiaries age 65 and up are satisfied with their quality of care. The not-so-good news is that the government health insurance program doesn’t cap costs, potentially exposing many retirees to higher-than-expected, out-of-pocket expenses. If you are looking for a source of extra income to make up for this, give us a call. We can show you how to achieve an income source you can’t

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Did You Hear? 

October 22, 2023

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. 

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An Email Scam Going Around

October 15, 2023

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,

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An Important Warning

October 9, 2023

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

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When to Buy an Annuity? 

October 2, 2023

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

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Calculating Life Expectancy 

September 24, 2023

We’ve provided some online tools to help estimate life expectancy, a topic we discussed last week. We found three we thought we’d share, each with varying degrees of specificity:  Go through one or all three to get an estimate. It may be able to help you with your financial retirement strategy. Did you know there are options out there that can provide you with income for life? Reach out to us to learn more. 

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When is the Right Time to Retire? 

September 10, 2023

When is the right time to retire? The answer to this, like every other decision you have to make in retirement, depends on your own personal needs and circumstances. The National Bureau of Economic Research found that “retirement improves both health and life satisfaction” but the age at which you retire impacts your quality of retirement.  The age at which you retire will also, naturally, affect your finances. Your retirement strategy may lend itself more to retiring later or earlier. We may be able to help you decide what time makes the most sense. Reach out to us, we’d be

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