Annuity Archives - Page 13 of 25 - Jerry Golden on Retirement

Increase financial literacy to improve your retirement

April 15, 2017 By Jerry Golden in Annuity, QLAC 1 Comment Tags: Annuities, Dependable spendable income, Guaranteed Income, retirement income, Social Security

Like most Boomers who are either already retired or planning for the day your paycheck stops, you have probably saved some amount of money to be available for the years you are not earning a salary. And you may be quite knowledgeable about retirement savings accounts like the 401(k) or IRA, or investment products like mutual funds, stocks and bonds.

The next stage of your financial life – converting your savings into the maximum amount of dependable, spendable income – is often more complex and confusing. It also comes with a whole new set of terms.

Retirement Planning with Certainty: Combine QLAC and Long Term Care Insurance

March 31, 2017 By Jerry Golden in Annuity, QLAC 1 Comment

This is the first of a series of retirement planning articles based on the concept of Planning with Certainty. Two of the more troubling issues for individuals, whether related to retirement or not, are lack of control, and uncertainty as to the future. Too much planning today accepts that as normal, and asks those near retirement, and current retirees, to just “live with it.”

When you plan with certainty, it doesn’t have to be that way. More

How interest rates affect income annuity choices

March 15, 2017 By Jerry Golden in Annuity, QLAC Tags: Annuities, Baby Boomers, Guaranteed Income, retirement income

The one thing nearly every professional financial advisor will agree upon, no matter what their specific approach, is that it’s very difficult to time the stock market. Money managers who are celebrated as stars one year — because they spotted something the rest of us didn’t see – may be bums the next.

The same truth applies to the more mundane world of interest rates. Though interest rates don’t tend to soar and crash with the drama of the stock market, the only sure way to detect trends is with a rearview mirror.

So when a 65-year-old woman visited Go2Income to calculate how much money her savings could provide, she remained hesitant. She knew how much income a QLAC she was considering would pay at age 85, but she wondered if she could get more income by delaying her investment in the hopes that interest rates would rise and insurance companies would offer better QLAC rates. More

Get numbers first for better retirement decisions

March 1, 2017 By Jerry Golden in Annuity, QLAC Tags: Baby Boomers, Guaranteed Income, Jerry Golden, QLAC, retirement, Social Security

Many experts tell you to base decisions on your “gut” reaction, and often that is a good and accurate way to make up your mind, such as when you meet a politician face-to-face for the first time or your daughter brings home a new boyfriend.

But when you are making decisions about your financial future, it’s usually better to rely on reason and fact, such as numbers that you can calculate. After you have looked at the analysis and the potential results, you can make a decision that fits your life and personal preferences. More

The perfect Valentine’s Day gift? A lifetime of income

February 14, 2017 By Jerry Golden in Annuity Tags: Valentine's Day

Think of the many ways to say, “I love you” around Valentine’s Day.

There’s candy, roses and, for the person you plan to spend the rest of your life with, a lifetime of income.

Even I might have questioned the romance of this idea but I recently spoke with a client whose interest in deferred income annuities, specifically a QLAC, stems from his deep love and concern for his wife, who happens to be much younger than he is.

He is 73 and retired. She is 60 and beginning to put in place the process for her own retirement at 65. Both have a life expectancy between 85 and 90. But because he’s much closer to that age, the actuarial tables have her living about 10 more years after he passes away, and of course she could live much longer, too.

So his thinking was that when she reaches 85, he’d likely have passed away and he wanted income from a QLAC to start at that age. More