There are a lot of good comments and questions on the recent retirement planning annuity videos that we posted. In this episode I will take the time to answer them for everyone. We’ll take a look at the cost of an annuity, a little bit about the legal and accounting and the fees. If and when companies get a kickback from annuity companies. We’ll take a look at when an annuity is tax free and when it isn’t. And, lastly we’ll take a look at why annuities are not FDIC insured.
Annuity Education:
00:00 Introduction
00:17 Question 1
02:11 Question 2 Mr. Loco
05:25 Question 3 Ram Barlev
09:16 Question 4 Dave McCune
11:46 Thank You and Contact Us!
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.
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
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)
LEARN MORE ABOUT: Retirement Annuities
REVEALED: How To Invest During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
HOW TO INVEST IN SILVER: Silver IRA Investing
“Insurance agents” who are not typically fully licensed (series 7) have given annuities a bad name. Many of these agents are part of a multi-level marketing schemes as well.
I’m 62 and retired with $57,000 left on my mortgage and $600,000 saved in my portfolio for retirement — should I pay off my home now?
Great series, thank you! Income Rider and MYGA tools are integral to filling out our income floor. The balance of our investable assets will be able to fluctuate with the market without affecting our spending levels. To us, Sleep-at-night outweighs ROI.
Great convo
Love this series, please continue.
Love your videos very informative. I need to watch all of your annuity videos, my question is are annuities index linked (time value of money)
Would you recommend any insurance companies for an annuity
My SPIA is with highly rated USAA. Lifetime income benefits for both me and wife. A 15 guarantee to our estate if we both die before that. ( Tiny difference in benefit from life only.) I converted part of an IRA for this annuity earlier this year (I'm 72) and we like it. Excellent sleep aid……. You should talk about this option in your series. You might not always get the ultimate payout, but your older clients could be interested….
Thank you for cutting through the typical BS and addressing annuity concerns directly.
Very educational thank you!