Annuity Quote and Advisor in Florida

All of us have monthly bills and obligations, even if you consider yourself "debt free." For the planner types out there, it's good to know that you have enough guaranteed income for your life (and your significant other's) so that you can fully enjoy your retirement years. It's not about the market, it's about lifestyle. And that lifestyle has to be funded by guaranteed income streams.

Some of the possibly needed income gaps can be filled with annuity transfer of risk strategies like immediate annuities or longevity annuities.

Whether you are already retired, or have a target date when you plan on retiring, it's important to know the specific dollar amounts of your retirement income sources.

Some sources of income are:

Social Security, Dividend Income, Pension Income, Annuity Income.

If you do not have enough retirement income to cover your lifestyle, below are some annuity strategies that can fill the needed income gaps. Annuities allow you to contractually solve for a guaranteed monthly or annual dollar amount to cover the exact amount needed for life.

Income needs now — Single Premium Immediate Annuities can be set up either single life or joint life to provide an income stream that you can never outlive. You also can combat inflation by attaching a contractual COLA (Cost of Living Adjustment) that increases your income annually by a specific percentage that you choose at the time of application.

Income needs later — Target-date income planning, or income later can be achieved by using longevity annuities or income riders attached to deferred annuities. COLA riders can be contractually attached if inflation is a concern. Using annuities for income later planning allows you to know the exact dollar amount of lifetime income stream that will start on a specific date in the future. For the detailed planner, this is a great feature.

Split annuity strategy — You can combine both income now and income later strategies to contractually guaranteed income streams to start immediately and at specific date(s) in the future. You also might be familiar with this approach also known as a bucket strategy, where different tranches of money create income streams at different designated times.

Achieving your retirement income goal, and covering those income needs for life, is one of the final hurdles that all of us want to achieve. For most people, utilizing these strategies is the only guaranteed way to get there.

If you have any questions or need an annuity quote please call 813-964-7100 or visit www.MintcoFinancial.com

We are a team of independent financial advisors with offices in Tampa, FL and Buffalo, NY.

We will be glad to help you to achieve your retirement goals and keep your lifestyle after retiring.

Call us 813-964-7100

Fixed Indexed Annuity: protection of principle from loss

The main purpose of a Fixed Indexed Annuity (FIA) is protection of principle from loss.  The FIA protects your principle while crediting interest to your account. 

You don’t own the risk the insurance company owns the risk.  The return is generally linked to an index like the S&P 500.  The real advantage is that it gives you the investor the option of in between the low interest rates of the bank and the high risk of the market. 

One of the strategies that can be effective for FIA’s is a short term laddered approach.  They do have surrender charges and offer different liquidity features depending on the company and product.  You need to make sure that you find the fixed indexed annuity that is just right for you and understand all the disclosures.

Indexed Annuity Example

Harry invests $100,000 in a seven-year indexed annuity contract with a 70% participation rate and a 12% cap. In the first year, the index is based on the S&P 500 and rises a whopping 30% for the year. Harry’s total gain is limited to 12%, because the total gain from the participation rate exceeds this amount (70% of 30% = 21%).

Some contracts will keep the gains from one year and reset the caps each year, while others calculate gains on a cumulative basis for the term of the contract. State law requires that indexed contracts provide investors with at least a small amount of guaranteed interest as a form of consolation if the underlying benchmark index does not rise during the term.

Should You Consider an Indexed Annuity?

Indexed annuities should be considered by any investor who seeks higher returns than those offered by traditional guaranteed instruments, but cannot afford to risk losing principal. However, you must be comfortable enough with absorbing the loss of any real gains if the underlying benchmark index upon which the contract is based does not perform well during the contract term. Older investors who still need some exposure to equities are prime candidates for these vehicles.


If you have any question or want to discuss more if fixed indexed annuity is right for your portfolio, please do not hesitate to call us at 813-964-7100.

Mintco Financial Team of Independent Advisors will be glad to help you. We are independent and fiduciary advisors. We work for YOU, not for banks.

Visit our website at www.MintcoFinancial.com

Build your pension: Annuity is your lifetime income

 

 

Steps to Your 'Personal Pension'

Most important steps to securing your retirement income:

1.    Spread your investment dollars among as many non-correlated income-producing assets as possible (global bonds, dividend paying stocks, private REITs, MLPs, and secured floating income investments to name just a few).

2.    Guarantee your income. Just like the foundation in your home is there to protect you during a storm, the foundation of your income plan should be guaranteed in case the perfect economic storm hits. For better or worse, the only account that can guarantee you a lifetime income is an annuity. Annuity options are plentiful—many aren’t that great—so carefully compare fees, risks, and potential performance.

3.    Set reasonable goals. Generating a 5-6 percent cash flow (adjusted for inflation) with a responsible level of risk is reasonable. Could you generate more? Sure, with more risk, but is it really prudent to accept a greater risk of running out of money? There are no do-overs in life and in retirement this is one area of planning that you must get right!

 

Speak to an independent financial advisor to review the best annuity for you.

Mintco Financial Team of Independent Advisors can help you to build your own pension.

Mintco Financial Advisors are fiduciaries and will work ONLY for the benefit of their clients.

Call us at 813-964-7100 or visit our website for more information: www.MintcoFinancial.com