Consider advantages of an annuity when planning retirementTerry Savage
Never allow anyone to push you into any type of investment. If you sense that the agent is trying too hard to get you to purchase an annuity, this should set off alarm bells in your mind, letting you know that it’s time to make an exit. 15. Your Gut Is Telling You That...
At the death of the annuity owner, if the contract would have had remaining funds to continue paying, they can be left to a named beneficiary that the annuity owner would have chosen when the contract was structured. Who Should I Name as the Beneficiary for my Annuity? A few common exampl...
Variable annuities can be transferred to other accounts without penalty. Investors should consider this possibility when deciding whether or not to purchase an annuity. An investor may move their money into an IRA after a certain number of years to avoid paying taxes on future payouts. The annuity...
Calculate the present value of an annuity if the number of periods is 3, the interest rate is 6%, and the payments are $200. Determine the amount of the bond interest expense for the first year. Calculate the price of a $10,000, 6%, 5-ye...
Possible sources of income (such as an annuity or inheritance) How long you expect to live Marriage status (If you are married, it's wise to determine which type of payment you should take when your spouse passes away) We can help you weigh these factors and come to a decision that sui...
What are the characteristics that an annuity should have? What are some important factors to consider when conducting a credit evaluation and scoring? Define or describe the following: Statement of financial position. Briefly describe two good things about a firm buying back its own sha...
This process can be difficult, and sometimes painful, but we believe it is a discipline that should define financial institutions. Lastly, we place great importance in the independence of risk and control functions. Just as important, risk managers have at least equal stature with their...
If you are in great health at age 62, then it's best to delay Social Security. If you are a single person in poor health, you should file for Social Security benefits as soon as you are eligible. For every year you delay taking Social Security, you'll get an extra 2/3 of 1% for...
There are severalalternatives to a 401(k). First, consider asolo 401(k)—it's very similar to the workplace plan. You could also open anindividual retirement account (IRA), of which there are several types, including traditional and Roth. You might look at anannuity, though these insurance...