Fixed Index Annuities are a tricky topic, and deciding for or against a bonus can be even trickier for your retirement planning. Is a bonus better for the long run, or is it better to say no to the bonus and go in a different direction? Well, what about the possible 10% return?! In this video, Troy Sharpe discusses Fixed Index Annuities, their bonuses, common sales pitches, and their impact on your retirement planning.
Video from Oak Harvest Insurance Services, LLC
01:05 The FIA and Salesmen
01:25 Why We Do What We Do
02:00 Common Annuity Questions
03:10 The Benefits of the Fixed Index Annuity
03:40 FIAs are NOT a Replacement!
05:36 When The Market Goes Down
06:25 The Popular Sales Pitch
07:55 Bonus Vs No Bonus
09:15 Performance of The Market
10:46 What Do You Think? Comment Below!
13:02 New Money Method
14:00 Sofr Rate Curve
15:19 I’d Go for No Bonus
16:55 Have a Plan!
20:53 Reach out To Us
21:24 7-10 Year Gov Treasury
23:00 Don’t be a Doctor
24:15 Do the Math!
24:30 Simple Way to Do the Math
24:57 Exit Fee Schedules
25:56 Current Interest Rate Environment
27:04 Watch the Basics of FIAs!
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Important Disclosures:
Insurance services are provided through Oak Harvest Insurance Services, LLC, a licensed insurance agency. Some Oak Harvest investment adviser representatives are also independent insurance agents. The insurance agents and Oak Harvest Insurance Services, LLC earn combined commissions up to 7.5% for selling insurance products, in addition to other compensation.
Annuities are long-term contracts with limited liquidity that are designed for retirement. Returns may be limited by caps, spreads, surrender charges, early withdrawal penalties, and other fees stated in the annuity contract. Retirement accounts such as IRAs can be tax-deferred regardless of whether or not they are funded with an annuity. The purchase of an annuity within an IRA does not provide additional tax-deferred treatment of earnings. Withdrawals may be subject to federal and/or state income taxes. A 10% federal early withdrawal tax penalty may apply if taken before age 59 ½ in addition to ordinary income tax. Partial withdrawals may reduce benefits and contract value.
Annuities are not guaranteed by any bank or credit union and are not insured by the FDIC or any other governmental agency. Some annuities could go down in value. Annuity and life insurance guarantees are backed by the claims paying ability of the issuing insurance company. If the insurance company encounters financial difficulties, there is a possibility that they may be unable to meet their obligations.
All information stated above is general in nature and is for educational purposes only. It is not intended to provide specific financial, legal or tax advice. Consult a professional regarding your specific situation.