Understanding Variable Annuities: Pros, Cons, and Risks for Retirement

Retirement Annuities: Do you want to understand the pros, cons, and risks of variable annuities? Are annuities really worth it for maximizing your retirement income, or are there better options? In this video, we dive deep into the role of annuities in retirement planning. We’ll explore different types of annuities, including variable annuities, and explain when they make the most sense, what benefits they offer, and the potential risks involved. Whether you're unsure if annuities are right for you or just want to learn more about maximizing your retirement income, this video has you covered!

Let’s break down the details to help you make an informed decision for your retirement future.

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Dive straight in:
00:00 Variable Annuities: Costs, Benefits, Pros & Cons
02:26 Guaranteed Income vs. Control & Inheritance in Annuities
04:55 Comparing Different Types of Annuities
07:29 Extra Benefits & Riders in Variable Annuities
10:02 Growth Guarantees in Variable Annuities: Understanding the Purpose
12:33 Annuity Withdrawal Rates Explained
15:20 High Fees & Inefficiencies in Variable Annuities
17:47 How High Fees Erode Account Value in Variable Annuities

#incomeplanning #retirementplanning #annuity #lifetimeincome #fixedindexannuity

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DISCLOSURE:
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.” Howard Bailey Securities, LLC is a federally registered investment adviser under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply any level of skill or training. The oral and written communications of an adviser provide you with information about which you determine to hire or retain an adviser. Form ADV Part 2A & 2B can be obtained by written request directly to: 5916 Covington Rd. Fort Wayne, IN 46804 Neither the information nor any opinion expressed it so be construed as solicitation to buy or sell a security of personalized investment, tax, or legal advice. Any references to protection benefit or lifetime income generally refer to fixed insurance products, never securities or investment products. Insurance and annuity product guarantees are backed by the financial strength and claims paying ability of the issuing insurance company.
An annuity is intended to be a long-term, tax-deferred retirement vehicle. Earnings are taxable as ordinary income when distributed, and if withdrawn before age 59½, may be subject to a 10% federal tax penalty. If the annuity will fund an IRA or other tax qualified plan, the tax deferral feature offers no additional value. Qualified distributions from a Roth IRA are generally excluded from gross income, but taxes and penalties may apply to non-qualified distributions. Consult a tax advisor for specific information. This is not a recommendation to surrender or otherwise purchase an insurance product. You should review your specific policy and financial situation with your advisor.

[louiseherta]

A variable annuity offered to me was wait 6 years, it grows by S&P 500 rate and protected up to 15% deceased. No fees lol😂 but no guaranteed income. I have no idea why I would benefit in any way. It is not invested in the S&P and I have no control over where it is invested. I’m so confused. Also, I am 68 so I will be 74 before I can even use this