Looking for information about annuities in Mesa? Perhaps you are considering an annuity for your IRA rollover or 401k rollover. If you are a teacher or work for a hospital, you may have a 403b rollover coming up. Maybe you’ve been to a financial workshop or dinner but you weren’t quite sure about the agent or the information you received. Finding the right annuity from the thousands available is an important task, but finding the right advisor who is a fiduciary and is required to be on your side, rather than the side of any one insurance company, may be even more important.
There are several types of advisors who can help you with an annuity: the first is an “insurance-only” agent who is not truly an advisor in the broad sense, but rather is an agent for their company. Please beware. This type of agent can mean well and have the best of intentions and even be quite likeable. But they may be very limited in their resources and experience. Worse yet, they may have an annuity in mind for you before they’ve ever met you. This is a very bad thing because without meeting you first, the advisor should have no idea what will be right for you. They should, however, have plenty of ideas and experience and be able to explain all four kinds of annuities, once you have spent some time sharing views. You have unique circumstances, specific goals, a level of risk tolerance, and specific financial needs. An insurance-only agent is not qualified or licensed to view your securities investments like mutual funds, ETFs, stocks, and bonds. We do not recommend you work with an insurance-only agent if you are making a major IRA rollover or 401k rollover decision. Your decision needs to be a fit with your entire portfolio.
Another type of agent has both a securities and insurance license, but works for a large company or broker dealer and is not an independent fiduciary. This agent may be licensed to view and perhaps advise on your mutual funds and ETFs, but may also have a bias toward higher risk and fees which come with variable annuities. They may recommend their company’s annuities even if they are not the most competitive. Variable annuities do not protect principal and can have fees of three percent to four percent every year, which means thirty to forty percent over ten years. There are four kinds of annuities: immediate, variable, fixed, and fixed index. Variable annuities are by far the most expensive and risky of the four types. Look before you leap.
At EsureAnnuity.com, you can be assured of getting the type of information that is matched to your needs from a qualified and properly licensed advisor—who is independent and on your side, not the side of any one insurance company. Do you find yourself interested in an annuity or still asking the question: “what is an annuity?” You’ve come to the right place. Those interested in proper wealth management want to ensure they are making the right decision from every angle, whether that decision is choosing the right type of annuity, choosing prudent investments at Fidelity, Vanguard, or Schwab, or finding the right choices for a 401k rollover or IRA rollover.
Many people aren’t really sure what an annuity is. Perhaps the subject is somewhat new or foreign to you. What is an annuity? Simply put, an annuity is an agreement to pay a specified party (you) a specific amount of money over a period of time (your retirement income), with an amount that is predetermined (a guaranteed monthly income that does not have the risk of going down). Rather than guessing about your future income, you can be guaranteed a reliable, sustainable, lifetime income, like a pension, for both you and your spouse. The purpose of doing this is to ensure the annuity owner does not outlive his/her income. For those who are retired or close to retirement age, having enough money to live comfortably for the rest of their lives is important – and too many investments include the risk of superannuation, or investors outliving the income provided by their investments. After the crash of 2008, many retirees now see the value of locking in and securing a stable retirement income.
Choosing a retirement annuity can be challenging, which is why it is beneficial to work with a Certified Financial Planner®, with help from a Certified Income Specialist™, and a Certified Annuity Specialist®, who can help guide you in the right direction. You should require that the agent you are working with is licensed both in securities and insurance. The optimal advisor will be licensed as a fiduciary (on your side, by law) rather than as a broker who answers to and works for a broker dealer rather than you. Typically, the agents in bank lobbies are brokers, who are required to sell specific annuities. That’s likely not what you want. There should never be any pressure and you should have your choices in front of you with the ability to compare annuities.
What are the best annuity rates, and is an immediate annuity or other product right for you? What is the best form of annuity calculator? Perhaps you are saving for retirement at the current time, or looking for income in retirement. Essentially, a retirement annuity can help replace your income so that you enjoy a financially comfortable retirement, and offer benefits you simply cannot get with other types of investments/retirement accounts.
At IQ Wealth Management, we provide clients with annuity intelligence, helping you make the best decision regarding the various types of annuities so that you can look forward to retirement with peace of mind, fewer worries, and a sense of independence.
