GMR 160: How to Create Protected Lifetime Income

Show NotesToday’s Annuity: A Tool to Create Protected Lifetime IncomeWhat are annuities?An insurance productAbout a quarter trillion sold in the US each yearAnnuity companies are highly regulatedBenefits of AnnuitiesTax DeferralPrincipal ProtectionUnlimited Contributions for Non-Qualified AnnuitiesAbility to Be Swapped Tax-FreeProbate AvoidanceAccess to Cash When NeededOffset to Longevity RiskGuaranteed Protected Income*Death BenefitsNursing Home, Long-Term Care, and Terminal Illness BenefitsTypes of AnnuitiesFixed AnnuitiesVariable AnnuitiesBuffered or Structured AnnuitiesFixed Indexed AnnuitiesImmediate Income AnnuitiesDeferred Income Annuities and QLACsMajor positives and negatives to buying annuitiesThe Positives Produce higher returns than many other fixed-income options Option for guaranteed lifetime income Offer a variety of payout options Tax-deferred income accumulation Can have guaranteed/predictable rates of return Can have principal protection and no risk of principal to market volatility All 100% of premiums work to generate interestAvailable contract ridersThe Negatives Some products have fees and charges Restricted access to cash No capital gains tax rates on earnings Contractual bonuses come with strings attached Additional income taxes for withdrawals prior to age 59-and-a-half No additional tax benefit for qualified fundsComplexity Where can you buy annuities?  How difficult is it to purchase the product?The Places You’ll Look – The Purchase ChannelsBe Sure to Ask Key Questions to Ask Before You BuyThe Five Steps to Purchasing An AnnuityResourcesHarry N. Stout Website - www.financialverse.comToday’s Annuity Products: A Tool to Create Protected Lifetime IncomeFinancial Verse Books by Harry N. StoutBudgeting tools and other free resources - https://leosabo.com/resourcesDavid’s website - www.stewardshippastors.com