I've looked at a handful of Annuity "basics" videos in the last few weeks and this is by far the best of the bunch. Actually does what the others promise, breakdowns the basics of what Income annuities are and how they work. The others start going down the "pros and cons" and "which ones are better/worse for what" path before they explain what they are. This video stays focused on what they are and how they work before it starts talking about pros/cons, etc. This is concise and well organized and uses specific examples effectively. Will definitely be watching the Index and Variable Annuity videos.
So many good points here. Not everyone is trying to make huge returns. Some of us just want enough to cover our living expenses. I plan to have my house paid off by the time I retire. I have no heirs. I am looking for low risk SECURITY and frankly could care less what happens when I die. Great video, thank you.
Well done! For a newbie trying to sort out the different types of annuities, you outlined these very nicely with organized presentation. Thank you for your expertise and presentation.
Thank you. This is a very clear prescise explanantion of annuities. I have considered it but have been afraid of losing money. It has clarified annuities for me.
Hi...I just want to tell you that I am very thankful for all the information you presented on annuities. I am just beginning to learn about various options for my future and I found your video online and was very impressed with you. I have subscribed so I will be watching more of your videos to learn and become more secure in my decision making. I just want you to know how helpful your presentation was...thank you again!
I’ve got a Jackson National Flex 2 annuity issued in 1991 and based on 1971 mortality tables and a 6% interest rate . Needless to say at age 65 the payout table results in a monthly income about 45% higher than even the most generous you could find now. Even with that I look at potential inflation and wonder if annuitization makes sense?
I'm 55 and If I put $750K in a index annuity Can I 1- Start receiving monthly payments now? 2-Will it last me the rest of my life? 3- What rate would I get? 4- How much would I get a month? 5-What do I have to pay taxes on? Thanks
1 - Yes, you can opt to get payments to start immediately. 2 - Yes, you can opt to receive a payment that will last as long as you live. 3 - You would need to work with an insurance salesperson to get actual quotes. But to get a rough idea of what type of payout you can reasonably expect, play around with some numbers in www.immediateannuities.com. 4 - See number 3. 5 - It depends if you use tax-deferred IRA money to buy the annuity or if you buy it with "normal" money. If IRA money, all of the payments would typically be taxable. If normal money, you would need to get the exact amount of taxability from the insurance salesperson working with you on the annuity.
Purchasing security. Build your own pension for income you can count on. Pension income gone the way of dinosaurs. No more than 50% of investable $$$, then can be more aggressive with other half with less worries while retired… hedging your bet… Kind of expensive security, but watch the news lately?
Sort of, but not generally called an income annuity. It’s a fixed indexed annuity. Here’s more details about how they work: What is a Fixed Indexed Annuity with Income Rider? th-cam.com/video/IqIr9n-YEAw/w-d-xo.html
I'm glad you like the video, thanks. There really isn't a "best" provider/insurer. You basically have to shop around and see which one is offering the best terms. Insurers routinely change the terms and rates they offer on annuities, so at any point in time, Insurer A may offer a better product than Insurer B. But that can all change over time. You also want to weigh in the credit rating of the insurer. All else equal, those that have weaker credit ratings are likely to offer higher annuity rates to try to attract more business. But you have to be careful because the weaker the credit worthiness of the insurer, the more likely they are to potentially have problems in making good on their promises to you. Generally speaking, stick with insurers whose credit rating starts with an "A" using the ratings from A.M.Best.
I've looked at a handful of Annuity "basics" videos in the last few weeks and this is by far the best of the bunch. Actually does what the others promise, breakdowns the basics of what Income annuities are and how they work. The others start going down the "pros and cons" and "which ones are better/worse for what" path before they explain what they are. This video stays focused on what they are and how they work before it starts talking about pros/cons, etc. This is concise and well organized and uses specific examples effectively. Will definitely be watching the Index and Variable Annuity videos.
Thank you very much Ben, I appreciate the kind words!
So many good points here. Not everyone is trying to make huge returns. Some of us just want enough to cover our living expenses. I plan to have my house paid off by the time I retire. I have no heirs. I am looking for low risk SECURITY and frankly could care less what happens when I die. Great video, thank you.
You are a great presenter and clear and concise. Helped me LEARN! thanks!!
Thank you!
Well done! For a newbie trying to sort out the different types of annuities, you outlined these very nicely with organized presentation. Thank you for your expertise and presentation.
I'm glad you found it helpful, thank you!
Thank you. This is a very clear prescise explanantion of annuities. I have considered it but have been afraid of losing money. It has clarified annuities for me.
I’m glad you found it helpful, thanks!
Thank you for being so clear and precise....
Great Presentation and well explained!
Thank you!
This was very concise information. I will share this with a some I know.
Hi...I just want to tell you that I am very thankful for all the information you presented on annuities. I am just beginning to learn about various options for my future and I found your video online and was very impressed with you. I have subscribed so I will be watching more of your videos to learn and become more secure in my decision making. I just want you to know how helpful your presentation was...thank you again!
Thank you for the kind words; I appreciate it. And I’m very happy to hear you find these videos helpful!
Thank you Andy
You’re the best !!!
This is a real Great video. Very detailed with examples. Thank you !
Thank you Amardeep!
Outstanding video!
Thank you for sharing.
Thank you!
you are so amazing the way you explained
thank you!
Great job again
They definitely make sense for my situation
Excellent video. Thank you !
Thanks!
excellent presentation. thank you
I’ve got a Jackson National Flex 2 annuity issued in 1991 and based on 1971 mortality tables and a 6% interest rate . Needless to say at age 65 the payout table results in a monthly income about 45% higher than even the most generous you could find now. Even with that I look at potential inflation and wonder if annuitization makes sense?
Thank you! Very clear
Great job with that!👍
Excellent. I want to get a SPIA.
My only problem is that I am not a US citizen.
Great video Andy!
Thanks!
"... helping you make sure you don't run out of money if you end up living a long time"
I'm 55 and If I put $750K in a index annuity Can I
1- Start receiving monthly payments now?
2-Will it last me the rest of my life?
3- What rate would I get?
4- How much would I get a month?
5-What do I have to pay taxes on?
Thanks
1 - Yes, you can opt to get payments to start immediately. 2 - Yes, you can opt to receive a payment that will last as long as you live. 3 - You would need to work with an insurance salesperson to get actual quotes. But to get a rough idea of what type of payout you can reasonably expect, play around with some numbers in www.immediateannuities.com. 4 - See number 3. 5 - It depends if you use tax-deferred IRA money to buy the annuity or if you buy it with "normal" money. If IRA money, all of the payments would typically be taxable. If normal money, you would need to get the exact amount of taxability from the insurance salesperson working with you on the annuity.
Purchasing security. Build your own pension for income you can count on. Pension income gone the way of dinosaurs. No more than 50% of investable $$$, then can be more aggressive with other half with less worries while retired… hedging your bet… Kind of expensive security, but watch the news lately?
Exactly my thinking
Is there such a thing as an indexed income annuity?
Sort of, but not generally called an income annuity. It’s a fixed indexed annuity. Here’s more details about how they work:
What is a Fixed Indexed Annuity with Income Rider?
th-cam.com/video/IqIr9n-YEAw/w-d-xo.html
Very informative and valuable.
which insurance company offers the best deal on annuities? thanks really great video
I'm glad you like the video, thanks. There really isn't a "best" provider/insurer. You basically have to shop around and see which one is offering the best terms. Insurers routinely change the terms and rates they offer on annuities, so at any point in time, Insurer A may offer a better product than Insurer B. But that can all change over time.
You also want to weigh in the credit rating of the insurer. All else equal, those that have weaker credit ratings are likely to offer higher annuity rates to try to attract more business. But you have to be careful because the weaker the credit worthiness of the insurer, the more likely they are to potentially have problems in making good on their promises to you.
Generally speaking, stick with insurers whose credit rating starts with an "A" using the ratings from A.M.Best.
Think it's best to wait until I'm 46.
For somebody with Stage 4 Cancer, This is not for me
Short answer....a rip off. Job done