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Should I Consider an Annuity in My Financial Plan?
Episode 12824th November 2021 • Secure Your Retirement • Radon Stancil, CFP® & Murs Tariq, CFP®
00:00:00 00:19:32

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Have you been considering purchasing an annuity as part of your financial retirement plan? An annuity is an insurance product that you buy from an insurance company and is very advantageous. 

When purchasing an annuity, it is important you evaluate the insurance company just like you would a financial advisor to determine its financial background for the safety of your money.

In this episode of the Secure Your Retirement podcast, we talk about annuities, what they are, and their benefits for your retirement plan. We explain an annuity’s income benefits, bond alternative, and tax deferral advantages. 

In this episode, find out:

  • Ensure you evaluate and choose a strong insurance company when purchasing an annuity.
  • The legal reserve system – a regulatory safety mechanism that ensures your money with an insurance company is protected. 
  • The qualified and non-qualified money and how to understand your buckets in each and what makes the most sense to purchase an annuity.
  • Why your after-tax money can make sense if put into an annuity for tax deferral. 
  • The tax benefits of purchasing an IRA annuity. 
  • How you can structure annuities to provide you a guaranteed income you can’t outlive.
  • How to use the annuity as a bond alternative so you don’t worry about bond volatility. 
  • How to use an annuity to tax defer on non-IRA money and invest in the market very low. 
  • Understanding an income rider in annuity and its benefits to your retirement plan. 

Tweetable Quotes:

  • “We like working with stronger rated insurance companies that have some good financial background to them.”- Murs Tariq 
  • “There’s no reason in going to an insurance company in the very beginning that’s not already highly rated.”- Radon Stancil

Resources:

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.