Here are five unique ideas that are designed to benefit you and your spouse over your lifetime. A word of caution: Brush up on your presentation skills since each one will likely be met with dead silence and/or outrage depending upon your spouse.
When presented in the context of retirement income planning, fixed income annuities have proven to be the most appropriate and natural commercial solution for providing sustainable lifetime income.
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…
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…
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…
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…
For individuals concerned about longevity who are looking for a sustainable source of income they can’t outlive, fixed income annuities are an appropriate solution for a portion of a retirement income plan.
Make sustainable income a cornerstone of your portfolio beginning at 45.
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