Retirement Annuity Questions and Comments Answered!

by | Aug 30, 2022 | Retirement Annuity | 6 comments

Retirement Annuity Questions and Comments Answered!




Regarding Retirement Planning, There have been a lot of questions and comments on the Annuity Series that we’re doing and in this episode, Troy takes the time to answer of few of them.

Link to Studies:

#Annuity #retirementplanning #TroySharpe

Working with a CFP® professional can be an important step toward reaching your financial goals. Not only do these advisors meet rigorous education and experience requirements, but they are also held to some of the highest ethical and professional standards in the industry.

00:00 Introduction
00:35 Question #1
07:30 Question #2
09:17 Question #3
10:40 Contact Us!

Education
CFP® professionals must master nearly 100 integrated financial planning topics, including:

– Investment planning
– Tax planning
– Retirement planning
– Estate planning
– Insurance planning
– Financial management

In addition to completing a comprehensive financial planning curriculum approved by the CFP Board, or equivalent academic coursework, CFP® professionals are required to complete continuing education coursework, including a CFP Board approved code of ethics course, to ensure their competence in financial planning.

Examination
CFP® candidates must pass a comprehensive 6-hour CFP® Certification Examination that tests their ability to apply financial planning knowledge in an integrated format. The exam is notoriously difficult and only 64% of people who took the exam in 2017 passed. Based on regular research of what planners do, the exam covers:

Establishing and defining the Client-Planner relationship
Gathering information necessary to fulfill the engagement
Analyzing and evaluating the client’s current financial status
Developing recommendations
Communicating recommendations
Implementing recommendations
Monitoring the recommendations
Practicing within professional and regulatory standards

See also  Discussion | Taxation of retirement funds on emigration

Experience
CFP® professionals must have a minimum of three years experience in the personal financial planning process prior to earning the right to use the CFP® certification marks. As a result, CFP® practitioners possess financial counseling skills in addition to financial planning knowledge.

Ethics
As a final step to certification, CFP® practitioners agree to abide by a strict code of professional conduct, known as CFP Board’s Code of Ethics and Professional Responsibility, that sets forth their ethical responsibilities to the public, clients and employers. CFP Board also performs a background check during this process, and each individual must disclose any investigations or legal proceedings related to their professional or business conduct.

This video discusses fixed income investing and utilizes the 10 year U.S. treasury as a general representative fixed income investment. Conclusions reached, opinions stated, and downside risks and potential returns presented should not be construed as applying to other types of bonds or fixed income assets. Other types of fixed income products carry different levels of risk and return potential and should be evaluated as an element of a diversified portfolio with your specific risk tolerance, investment objectives, and timeline in mind. Nothing in this video is investment advice, an investment recommendation, or an offer to buy or sell any security. Investing involves risk.

Do you have a retirement plan that goes beyond allocating funds to truly fit your needs? We can help you create a retirement life plan customized for your retirement vision and legacy. Call us at (877) 404-0177@
@
If you have $500K or more and would like a partnership with a firm to help you manage your investments and financial plan as in these videos, click on this link to connect with our advisors:
(read more)

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6 Comments

  1. jdgolf499

    Troy, thank you for answering my question. However, maybe the question wasn't completely clear. The answer you gave was very informative, but my question was more about how the annuity I would purchase with my lump sum is determined. Example. When I started investigating the lump sum option back in February, I was using the Fidelity guarenteed income calculator to find a payment. With the $117,000 lump sum, starting payments in January, 2023, with a joint annuity, monthly payments would be $524 a month. Now, in June, with the same amount and payment start date, the monthly payment would be $555, an increase of $31 a month. Question is what impacts those payments? Thank you, and keep up the great work.

  2. JP G

    Avg retirees: “In markets like this, I really wish I had more guaranteed income coming in.”

    Also avg retirees: “I hate annuities!”

  3. RICK APPEL

    What drives the increases in income payments. Are the DIA, QLAC and FIA income rider have the same driver. Is it just your age vs life expectancy?

  4. dsarnold

    Some people are just biased against annuities because of things they've heard from other people or what they think they know. They have a place in most people's portfolio. Given the performance of the market and the fact that I just retired, I'm really thankful I bought this product. I wish I'd put more into it.

  5. V p

    Americans are so lazy. (They don't care what the car cost, just their monthly payment). … Why not do some work to assure your future and your financial well being? ….. Anyway, I have very much enjoyed this series and have found it useful.

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