“Does that make sense?” Raise your hand loud and proud if someone has ever said this to you and you answered “Yeah, of course,” when you really had no clue what was being said. I am guessing there are quite a few hands up right now. I know I am guilty. Why are we so afraid of admitting that we don’t understand something? Here are some of the essential terms you need to know about annuities so you can spend more time understanding and less time Googling. Understanding what is being said is important. You know what I mean, right? (more…)
Sundry Situations for SPDAs
In my previous post about Single Premium Deferred Annuities (SPDAs), I summarized Becky’s challenge to find a financial product for her retirement money that was safe from the volatility of the market1, but with greater interest earning potential than banking and other fixed interest products. Her situation was ideal for a fixed indexed SPDA.
SPDAs serve a lot of needs and don’t get enough credit for it. One reason for the slight is that they just don’t cut through the noise of so many types of financial solutions and options. Faced with too much choice of anything, we all tend to tune out most of it, often at the risk of missing some very good ideas. (more…)
Using an SPDA to Help Meet Your Savings Goals
Becky has a problem, but it’s a good one to have. She has carefully managed to put away a
sizable sum in her checking account that will more than help her get through a financial
Sadly, a shocking 40% of Americans don’t have enough on‐hand cash to cover an unexpected
$400 expense, according the 2019 Federal Reserve Board Survey of Household Well‐being.
Knowing this, Becky is in good form ─ but her problem is that she’s getting next to nothing in
interest on her savings. (more…)
Saving Early for Retirement In Spite of FOMO
Bulls, Bears and Turtles, Oh My!
It sure is fun to see the positive returns of a bull market. But, if you are cringing at the sight of significant downturns and losses when a big, bad, bear comes into view, perhaps the slow, steady, performance of a fixed indexed annuity should be part of your retirement savings mix. (more…)