Annuities for Dummies

What is an annuity? Annuities are not complicated. I will go over in detail fixed annuities vs. indexed annuities, variable annuities, immediate annuities vs. deferred annuities, how to fund annuities with qualified and non-qualified funds, guaranteed income for life, how income is calculated, risks of annuities, market strategy vs. indexing strategy, cap and floor, how agents get paid, lifetime income benefit rider, death benefit rider, long-term care rider and how life insurance companies are regulated.
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Learn how to grow your money safely, protect yourself against the ravages of unknown future tax liabilities, reduce or eliminate the amount of interest you pay to banks and credit card companies, avoid the enormous fees you are currently paying on your investments that are eating up your earnings, protect yourself from healthcare emergencies that can ruin you financially and a way you can have a guaranteed income in retirement. And, I’ll show you how these strategies will beat the pants off your 401k.

You will learn how to get…. Income in retirement you can never outlive, Tax-free growth on your retirement savings, Tax-free income during retirement, Protection from stock market downturns, market-like returns and easy penalty-free access to your retirement savings. I will also introduce you to an amazing retirement plan where a lender will match your 5 annual contributions 3:1, so, just like your employer will match your 401k investment, a bank will match your investment times 3!
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DISCLAIMER:

The Wealth Protection Lady makes content available as a service to its customers and other visitors to be used for informational purposes only. While our best intentions are to provide accurate and timely information, you should always consult with retirement, tax, and legal professionals prior to taking any action.

[cundiyosa]

I had no idea how annuities work but you did a great job at explaining. I will be looking forward to talking with you soon as I am looking to retire very soon. Thank you.

[elass]

Some states don't have death taxes, and inheritance tax is only a thing if you have assets over a very high dollar amount, which I believe is around 12 million dollars.

[lcurns]

Excellent explanation of how annuities work! You have a subscriber in me! Thank You. Very helpful, I’m looking at transferring a 857b deferred comp account from my employer to an annuity managed by a company called Athene. I have a lot of questions before proceeding thanks to your video

[nadiaeftedal]

Thanks so much..you're very clear, understandable and informative..very helpful!!!

[DennisLynch-nl]

Hi, I have been a licensed agent for many years and I recently discovered your videos and think you do a great job and I have learned several nuggets from you. I am wondering if you have a video specifically teaching an annuity illustration, I like your easy to understand teaching methods.

[YesToTech]

Wow! This is super well explained! Subscribed and can't wait to watch more! :)

[MrAsam]

Thank you for this! Made it really clear.

[lshirley]

Thank you for your informative video .✌🌵

[IndianOutlaw]

My 401(k) is going to purchase an immediate annuity for me one day. Each has its purpose.

[luisahernandezmunoz]

Quick questions: having an annuity affects you in your social security in terms of taxes? And also if you have a whole life insurance there is a way you can convert that product for an annuity?

[terrysmith]

I think if your mother went with the fixed indexed annuity would’ve made out better seeing as this video was made in 2020 in the stock market has come back up so much

[Grquest]

Sister, you had me when I saw your lamp and bed frame. They say "Down to earth". Happy to make your acquaintance. Cancel that. I can't get past the clicking sound after 8 min.

[billphister]

For your comparison of a 401k with annuities, please keep in mind that you can take money out of the 401 k, penalty free, under certain circumstances. For instance, there is the "Rule of 55", which states that you can take money out of your most recent employers 401 k, without paying a penalty, provided that you are over the age of 55. Is there anything similar for annuities?

[garya]

Who in their right mind would stay in a 401k with high fees when they could roll it into an IRA with low fees?

[cartracer]

thanks for the video, although your video is 3 years old now. i was considering a guaranteed future income annuity based on todays current rates. it would be a single life with a cash refund option. an example was shown for contract writing at age 60 with payments starting at age 65 with a 9, 23 percent rate. this could be a lump sum or payments to fund it. i'm not seeing to many cons other than you give the insurance company your money and they invest it to pay you for life like a pension. the rates now are higher than ever before and i would like to lock in now because later likely to go down. what do you think. thanks

[cynthia]

I am studying for my Life Insurance license and I just learned SO much more by watching your short video

[robinsontimg]

Dear Lady: I will just humbly say thanks for this valuable help in making a very important decision in my life; I just turned 80; I will watch you again and again 'till I get acquainted with the turns and facts of the trade. thanks again.

[scottprice]

The problem here is inflation . If it’s structural in the 3-5% range you’re quite exposed . Inflation protected annuities are prohibitively costly . Variable products are merely a conduit for transfer of your money to the insurance company and usually an inferior pay table for annuitizing compared to a simple income annuity . Perhaps to cover a fixed expense like a mortgage you could have one of these but why do you have a mortgage in retirement ? Anyone that has annuitized pre pandemic must be kicking themselves.

[davidweden]

I've done a lot of research recently on annuities as I get close to retirement. Generally, I think SPIAs are not a good product for retirement, however, the SPDA products can be used to insure against running out of money, should one live beyond expectations. I also think that, just like life insurance, annuity products are good as insurance products, but not good as investments. Keep investments and insurance separate. Just my 2 cents.

[JDubYa]

SPIA does not stand for Single Premium Indexed Annuity. It means Single Premium Immediate Annuity. And the same for a DIA. It's not Deferred Indexed Annuity, it's Deferred Income Annuity