First and foremost, consumers buy annuities to create retirement income

Nov 14, 2018

  1. Insurance Forums Staff
    Offline

    Insurance Forums Staff Super Genius

    Posts:
    130
    Likes Received:
    12
  2. Newby
    Offline

    Newby Guru

    Posts:
    14,510
    Likes Received:
    1,663
    State:
    Indiana
    I still remember when my eyes were opened as to what annuities are and what they do. I’ve sold myself at least one every year since then.

    Insurance agents are crazy that don’t take advantage of this retirement tool. Not all of your retirement money should be exposed to market risk.
     
    Newby, Nov 15, 2018
    #2
  3. PCBI
    Offline

    PCBI Guru

    Posts:
    377
    Likes Received:
    62
    State:
    Hawaii
    I am considering but not solid yet. I make 2% on my neat egg now ans pay taxes on cap gains instead of flipping a 3.4% annuity in 3-5 years atuck paying 15,000 of cap gains if I want out. Either way Uncle Sam bends u over now or later. When its time to retire an anniuty taxes you on an immediate for payments as well. Im thinking a tax free lump sum of money I pay myself will be bwttwr in 5 years. Basically b my own annuity with a lump aum amount already taxed .
     
    PCBI, Nov 17, 2018
    #3
Loading...