*Quoting Guaranteed Income on the Pinnacle Website using Annuity Rate Watch
*Understand the options available with Guaranteed Income Annuities using a Fixed Index Annuity
*Know what how Guaranteed Income is in the best interest of you client
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Well, the inevitable has happened. We are now experiencing a conflagration of events all leading toward a potential recession. The market is experiencing extreme volatility, inflation at 40-year highs, and an economy that is in doubt. With all that in mind, it’s time for potential retirees and those in retirement to hedge against volatility with annuities.
Market volatility is always going to happen. It is necessary to have a plan in place to mitigate it. Now, that plan needs to include the consideration of annuities, regardless of where you are in your current financial circumstances.
Some questions to ask yourself in considering an annuity: “Are you concerned with risk?” “Are you concerned with outliving your income?”, and “Do you want more guarantees?”
All of these are important when considering an annuity, but the most significant is that it provides the income you can’t outlive, regardless of the return.
Help your clients to understand why an annuity could be a good consideration based on volatility, inflation, and the general economy:
So, we are currently in a perfect storm of potential negativity. However, not all is lost if you have a plan. You can calm the market volatility with an annuity. Additionally, you don’t have to put all of your assets into this solution. There are many myths and misinformation with respect to the placement that annuities have, especially during times of market volatility. Understanding the reasons behind this option will make your clients more comfortable in considering them, and ultimately have a less stressful time leading up to, and during, retirement.
Fixed annuities including Fixed Index, MYGA’s, and SPIA’s, can help your clients balance their portfolio risk tolerance and insulate their retirement savings from the inevitable.
When trying to navigate these important considerations, lean on the experts at Pinnacle Financial Services. Our expert team can evaluate your client’s needs and make recommendations that will provide peace of mind during these times of uncertainty.
For more information, contact a Pinnacle Financial Services representative today
1 (800) 772-6881 x6003 | annuity@pfsinsurance.com
Senior Sales Director | Life, Annuity, & LTC
1 (800) 772-6881
support@pfsinsurance.com
Many clients have questions about RMDs. What are RMDs?? What accounts do RMD rules apply to? When do I have to take them? Do I have to pay taxes? And now we are asking, will RMD’s increase to age 75?
Many clients need to revisit their retirement plans due to rule changes in recent years.
Prior to the SECURE Act of 2019, RMD’s started when someone reached the age of 70.5. The SECURE Act moved the RMD age to 72 (if you reached 70.5 after January 1, 2020).
Simple enough… until the CARES Act suspended RMDs in 2020. Congress is currently considering a bill that would move the RMD age back to 75… So clients will need guidance with RMDs in 2021.
Most Annuities will allow for RMD withdrawals even within the surrender charge period. We as agents can help educate clients about RMDs and how Annuity products can provide a potential solution.
Most Indexed Annuities will allow for Required Minimum Withdrawals. FIAs can present a great solution for many in retirement today. These are FIXED annuities so not subject to market risk. Clients can still earn interest keeping pace with inflation. Guaranteed Lifetime income rider utilization can even satisfy RMD requirements in most instances.
Every Pinnacle Agent gets access to AnnuityRatewatch for free. Visit – https://pfsinsurance.com/services/quoting
Contact us for complementary Annuity Whitepaper and Fact-Finding Tools.
We provide agents with pre-set appointments with State and Federal employees at a very low cost. This program sets exclusive appointments with pension-eligible employees. No commitment or up-front cost. Can be on appointment and selling very quickly. Pre-Set Appointment Best Practices
If you are just getting started with Life, Annuity, and/or LTC products or are just learning about them, Click here for more info. Training is provided on products, fact-finding, selling concepts, etc.
For more information on how Pinnacle can assist you please contact an annuity team member today at 1-800-772-6881 x-6003 or email annuity@pfsinsurance.com.
1 (800) 772-6881 x7731 | sales@pfsinsurance.com
Assistant Vice president - life & annuity
1 (800) 772-6881
support@pfsinsurance.com
One of the most important areas that need to be considered on the success of your retirement is having enough funds. When you stop working and receiving a regular income you want to be able to maintain your lifestyle. How do you accomplish this important fact, and what strategies are necessary to sustain and thrive in retirement? The answer for many is Social Security and Annuities.
Social Security is a primary leg of that retirement as well as private annuities. Social Security is a right that is earned based on working history and earning enough credits to receive an income when you ultimately retire. By having a guaranteed payment from Social Security, it is also advisable to have an annuity that will also provide a parallel guaranteed income as well. Taking into consideration what age you stop working, will be a huge determining factor in the actual Social Security benefit that you receive, as well as potential tax liabilities on your Social Security benefit when you start receiving Social Security. By planning your own personal Social Security maximization strategy, an annuity can help cater and provide the income necessary to truly provide for your specific retirement income strategy.
It is important to work with a professional that understands all the rules of Social Security and when your personal maximization strategy is. Determining your optimal claiming strategy for Social Security will lead to a more comfortable retirement. There are many strategies that can be employed, and the use of a guaranteed lifetime annuity can offer that additional income to complement your Social Security payments. The idea, and the importance of having multiple sources of guaranteed lifetime income, will be the strategy that can’t eliminate all pitfalls for a successful retirement, but it will alleviate some stress from the retiree, by providing something similar to a consistent paycheck like they had when they were working. The topic of Social Security, and the addition of the annuity option to this overall planning, as well as the consideration of other options to create income during retirement, are all now the most important considerations for a pre-retiree, and retired individual to consider moving forward. The common studies now show on average that a man 65 will live 20 years in retirement, and a female age 65 will live 22 years in retirement. Costs of healthcare, basic living expenses, and other unplanned expenses, will require funds to pay for them, and calculating your foundational income sources is of the utmost importance. Many different calculators are available to help you plan, but having a trusted advisor to assist you with these topics and plan for them accordingly.
At Pinnacle Financial we can assist you with the actual Social Security Maximization Strategies, as well as making recommendations with guaranteed lifetime income annuities to help supplement the Social Security income to have a successful and stress-free retirement. This is probably the most important planning that you can do with a client to make sure that your clients can be informed and comfortable when they finally stop full-time work and transition to retirement. Pinnacle Financial is here to help you with this and is an expert with this planning.
1 (800) 772-6881 x7731 | sales@pfsinsurance.com
Senior Sales Director | Life, Annuity, & LTC
1 (800) 772-6881
support@pfsinsurance.com