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Misunderstanding #1:  I HATE ALL ANNUITIES!!

8/16/2020

 
Annuity Truth:  WOW!  That's a pretty strong statement - as my friend Stan (the Annuity Man) Haithcock is fond of saying: 

"Saying you hate all annuities is like saying you hate all restaurants - it makes no sense..."

I have a couple of questions for you to consider:
  1. Do you hate getting your Social Security check every month?
  2. If you retired from a company that offered a pension, do you hate getting your pension check every month?
​
The reason I'm asking those questions is this - Social Security and your pension are examples of annuities - guaranteed "lifetime income annuities."

They pay an amount of money, every month, for the rest of your life, regardless of how long you live.  That's the definition of an annuity.

An annuity can also earn tax-deferred interest, but for the purpose of answering this "Misunderstanding #1," an annuity is a financial product that pays a guaranteed amount of money, every month, for a specific period of time, up to and including the rest of your life.

So - just to be clear - you can't have it both ways - you can't "hate all annuities" while you're receiving your monthly Social Security (annuity) and perhaps a pension (annuity) payments...

Receiving guaranteed "paychecks for life" that cannot be outlived, whether it's from Social Security, a pension or a private annuity that you own,  sounds like a pretty good thing from where I'm standing...

If you have questions about annuities in general, or a specific questions about a particular annuity, drop me a line, call me or fill out the "Ask Rick A Question" box - your questions will come directly to my email Inbox...


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  • Home
  • VIDEOS
    • Retirement Planning >
      • Annuity Explanation
      • Home Equity Transfer
      • Monetary Devaluation
      • Pension Maximization
      • Retirement Income Risk
      • Retirement Insurance
      • Retirement Questions
      • Retirement Savings Risk
      • Retirement Tax Strategy
      • Reverse Mortgage (HECM)
      • Roth Conversion
      • Safe Money Contracts
      • Social Security
      • Tax Free Retirement
      • Taxes, Risk & Fees
    • Fixed Annuities >
      • Annuity Buckets
      • Annuity Exchange
      • Annuity Laddering
      • CD to Annuity
      • FIA Credit Rate Explanation
      • FIA Decision Assurance
      • FIA Hedging Explanation
      • FIA Reset Explanation
      • Guaranteed Income Rider
      • IRA Annuity
      • Income Annuity (SPIA)
      • Indexed Annuity
      • LTC Annuity
      • Longevity Annuity
      • Multi Year Guarantee Annuity (MYGA)
      • QLAC Annuity
      • Split Annuity
      • TSP Annuity
    • Estate Planning >
      • CRT / ART
      • Cash Reserve Asset Class
      • Estate Life Insurance
      • Estate Planning
      • Estate Tax Insurance Trust
      • Estate Taxation
      • Final Expense
      • LTC Life
      • Life Settlement
      • Living Trust
      • Planned Giving
      • RMD Conversion
      • Single Premium Life
      • Special Needs Trust
      • Split Dollar Family Banking
    • Life Insurance >
      • Cash Value Life Insurance
      • Child Savings Bank
      • College Funding
      • Family Life Insurance
      • IUL Credit Rate Explanation
      • IUL Decision Assurance
      • IUL Hedging Explanation
      • IUL Reset Explanation
      • IUL Retirement Plan
      • Index UL
      • Life Insurance Calculation
      • Lifetime Tax Strategy
      • Living Benefits
      • Mortgage Life Insurance
      • Private Equity Banking
      • Term/UL Conversion
      • WL Retirement Plan
      • Whole Life Dividends
  • Create A "Private Pension"
  • The Annuity Truth
  • Blog
  • About
  • Contact