Suze Orman and annuities as an income in your retirement plan

 If you are those people that only listen Suze Orman for advice, it is time to figure out your retirement choices. And YES, Suze Orman agrees to have annuities if you are thinking of your retirement income.

Here what Suze Orman says about Annuities and Retirement:

"We have seen how TSAs make sense, and sometimes index annuities, but there is also one other circumstance. If your goal is to have income during retirement years, you do not want to take any risk with this money, you want to avoid paying taxes now, but you are still not currently in a high enough tax bracket to make municipal bonds make sense, and lastly feel that you will be in an even lower tax bracket when you retire, then I do have to say that a single premium deferred annuity is great."

EXAMPLE:
You deposit $25,000 into a SPDA, and over the next 15 years it pays you an average of 5% on your money. Tax deferred, your money will grow to $51,973. Now you need income. Simply start taking the interest from the $51,973. If the interest rate you are offered is 6%, there would be a total of $3118 a year on which you would owe taxes. If instead you had kept that money in a bank's certificate of deposit, and let's say you were in the 15% tax bracket, over the same 15 years, you would only have accumulated $46,675. The income on that 6% interest would only be $2800 on which you would owe taxes. If you put your money in an SPDA, and it performed as it did in our example, this would mean $318 a year difference in income to you. Remember, every penny counts, especially during your retirement years. When you take into account how much money you really did invest and the real rate of return your money earned over the long haul, the difference could be a significant amount.

Mintco Financial Team does specialize in retirement annuities, if you would like to speak to an expert, please let us know a good time and date that is most convenient to schedule a time to call you, and a good number to call. Also, which state do you reside in, as each state's products can vary.

Call us at 813-964-7100 or visit our website www.MintcoFinancial.com

Annuity Quote: http://www.mintcofinancial.com/quotes/annuity-quote/

Michael Minter is a managing partner of Mintco Financial and author of the bestseller financial book I-PLAN.

President Obama does not agree with Suze Orman

Obama is promoting annuities to help retirees have  an income for life. He does not agree with Suze Orman when she says annuities are bad for you. "Bad  is running out of money in your golden years" - says Obama.

Top Five Reasons the President is Promoting Annuities:

1. Guaranteed payments: throughout the recent crisis, not one annuity provider ever missed a payment - not even one;

2. Unparalleled consumer protections: provides insurance benefits and peace of mind no other product can;

3. Resilience: the overall value of annuities have already regained pre-crisis levels while payments never decreased;

4. Save now, pay later: allows tax-deferred savings until you withdrawal the money;
5. Possibilities without pitfalls: provides risk-adverse consumers the opportunity to re-enter the market but with guarantees.

Obama knows that Social Security alone, especially in its ever-diminishing state, will not be enough for Baby Boomers when they retire.

The security and value of guaranteed income through insured retirement strategies has never been more apparent following the recent economic crisis.

These strategies help investors achieve a financially secure retirement.

Annuities can play a vital role in ensuring all Americans to have a comprehensive retirement plan to guarantee income for their golden years.

Call Mintco Financial Specialists to review if Annuities can be part of your retirement plan.

813-964-7100 or visit our website: www.MintcoFinancial.com

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