175429134In a July 13 NY Times article http://nyti.ms/12y0qAd by Paul Sullivan about notices that some  holders of variable annuities have been receiving in the mail from their insurance companies that are trying to get out of some of the overly generous living benefit guarantees, he noted that these letters “may look like routine notices from an insurance company(but) might be the difference between receiving the payment they expect and one that is significantly lower”.

The article also states that as a Registered Investment Adviser (RIA), I advise clients to consider over time adding fixed annuities to your retirement savings to accomplish that same goal – having guaranteed lifetime income in retirement.  I’m quoted as saying, “Our analytics suggest these [fixed annuities purchased over time] are very attractive vehicles versus variable annuities with living benefit guarantees. They’re very transparent and very low cost, and the math works.” More