The takeaway: equity indexed annuities allow you to participate in the stock market, with minimal losses and some gains. However, your market gains are substantially limited by fees and contract restrictions. Plus, obscure interest calculations make it hard to verify you’re getting the returns you were promised.  Better alternatives exist, so think twice.  (Maybe three times.)  … [Read more…]
The takeaway: How we succeed or fail with money is not based on our income, education, occupation, or investing skills. Instead, it’s based on factors like our behavior, attitude, and humility to name a few. These attributes are money “soft skills.” If there were ever a time to master the soft skills of money, it’s … [Read more…]
The takeaway: Immediate and longevity annuities pay you income for life, charge the lowest fees, and charge the lowest commissions.  If the stock market is making you a teensy bit nervous, they might be worth a second glance. They’re about the cheapest annuities you can buy. As always, you’ll need to weigh the pros and cons. … [Read more…]
The takeaway: An annuity bankruptcy doesn’t happen everyday, but it does happen. (Just ask me.) Protect yourself with these three must-do actions. Don’t be my younger self! $$$ Part 3 of a series on annuities that will appear here from time to time. $$$ All I had to do was swing by the bridal shop, … [Read more…]
The takeaway: The book, How to Make Your Money Last, is a reference guide for any number of personal finance topics relevant to retirees and retiree wannabees.  The book hits all the retirement highlights. As always with Jane Bryant Quinn, the book delivers the goods. $$$ Jane Bryant Quinn is an American treasure. She’s had a … [Read more…]