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Death Benefits and Your Annuity

By Katrina Katigbak | October 15, 2020 |

An annuity is a contract between you (the “annuitant”) and an insurance company. You purchase an annuity contract either with a lump sum payment all at once, or with many smaller payments over time. The insurance company invests your payment, and promises to provide you income over a fixed period, which may include the rest…

The Difference Between an IRA and an Annuity

By Katrina Katigbak | October 6, 2020 |
The Difference Between an IRA and an Annuity

Employer-provided 401(k) and 403(b) plans have options for investing in mutual funds of stocks and bonds, real estate investment trusts, and money market funds. Some may also offer options to save in individual retirement accounts (IRAs) and annuities. Self-employed people also have options for establishing IRAs and annuities. These products offer tax advantages by allowing…

How To Start Planning for Retirement

By Katrina Katigbak | September 29, 2020 |
How To Start Planning for Retirement

The United States Department of Labor’s Employee Benefits Security Administration (EBSA) states that only 40% of Americans have calculated how much money they’ll need for retirement. Even more surprising, EBSA reports that, as of 2018, 30% of workers who had the opportunity to contribute to an employer-sponsored retirement benefits plan were not participating. Knowing how…

How the Stock Market Affects Your Retirement

By Katrina Katigbak | September 23, 2020 | Comments Off on How the Stock Market Affects Your Retirement
How the Stock Market Affects Your Retirement

Retirees and those approaching retirement worry about volatility in the stock market. Big market drops can send a chill down the spine of those who depend on retirement savings invested in stock mutual funds, ETFs, and index funds. Market whiplash creates uncertainty about whether hard-earned and carefully saved money will be there when retirees need…

How To Transfer an Annuity From One Broker To Another

By Katrina Katigbak | September 9, 2020 |
How To Transfer an Annuity From One Broker To Another

Annuities are contracts with insurance companies. Sometimes, something better comes along years after you purchase an annuity, or you may simply become dissatisfied with your brokerage and want to transfer your investments, including an annuity, to a different firm. It is critical to know how to transfer an annuity from one broker to another to…

Ways To Turn Retirement Savings Into Income

By Katrina Katigbak | August 28, 2020 |
Ways To Turn Retirement Savings Into Income

Anyone who has received that intermittent mailing from the Social Security Administration may wonder how they can live on what they’ll get in retirement. Those who have diligently saved for retirement anticipating this shortfall have several ways to turn retirement savings into income. Here’s a brief selection of income-producing strategies for retirees. Learn the 4%…

Annuities and Social Security Income Limits

By Katrina Katigbak | August 27, 2020 |
Annuities and Social Security Income Limits

Social security benefits may be affected by your age, the time you elect to begin receiving payments, and by how much money you make. People close to retirement age may wonder about annuities and social security income limits. However, the Social Security Administration (SSA) does not count income from pensions, annuities, dividends, or interest. It…

How Different Annuities Are Taxed

By Katrina Katigbak | August 5, 2020 |
An elderly couple viewing a website on a tablet.

As the saying goes, two things are certain: death and taxes. Annuities can’t prevent the first, and taxes on them must be paid eventually. But the type of annuity you purchase or contribute to affects how much of your money will be taxed, and at what time. As with any kind of financial product, individual…

How to Keep Assets Safe from Creditors with an Annuity

By Katrina Katigbak | July 30, 2020 |
Multiple dice stacked on top of stacks of coins. The dice have financial symbols on them.

In a perfect retirement, all debts, including mortgages, would be paid off and savings would provide a comfortable lifestyle for as long as you live. Life, however, doesn’t always work out the way we plan. Thankfully, there are ways to protect hard-earned savings to ensure you have a reliable income during retirement. One strategy to…

The Advantages of a Retirement Annuity

By Katrina Katigbak | July 15, 2020 |
The Advantages of a Retirement Annuity

Retirement annuities are one of many strategies that provide financial stability in retirement. Smart retirement planning often includes annuities to supplement other retirement savings and plans. Reviewing the advantages of retirement annuities should be part of any retirement planning conversation. Steady Income in Retirement Annuities provide the comfort of a steady income stream in retirement.…