I rolled mine to the new employer's 401K. If they match contributions it is hard to pass up IMO
That's quite the employer are you hiring?
I rolled mine to the new employer's 401K. If they match contributions it is hard to pass up IMO
Return is 80% of the S&P with no risk to the principal or previous month's earnings. When the market crashes (err adjusts) zero will be my hero.Annuity...yikes! At least nobody in your family will have to fight over an inheritance.
BTW, you can build your own annuity (using different funds w/varying risk levels & equity/bond balances) without paying massive fees and be able to maintain your rights to your money.
Return is 80% of the S&P with no risk to the principal or previous month's earnings. When the market crashes (err adjusts) zero will be my hero.
Are you asking what an annuity is?Can you explain this a little more or disclose who is offering this?
Are you asking what an annuity is?
Thanks for correcting me. I knew disclosure was better, I did not realize *everything* had to be disclosed now. But if you still have to ask for it (and most people still won't know to do so) that's not as upfront as an expense ratio. And while it's a good point about institutionally priced shares, when Vanguard is offering ETFs at 10 basis points or less it's hard to imagine getting a deal that good in any plan.
Can you explain this a little more or disclose who is offering this?
Thanks for correcting me. I knew disclosure was better, I did not realize *everything* had to be disclosed now. But if you still have to ask for it (and most people still won't know to do so) that's not as upfront as an expense ratio. And while it's a good point about institutionally priced shares, when Vanguard is offering ETFs at 10 basis points or less it's hard to imagine getting a deal that good in any plan.
As an insurance agent with an annuity certification I'm not able to sell you anything that puts your principal or gains at risk. If you're old like me and in Iowa or a nearby state I would be happy to talk with you further on this.
However, if you're young (under 40) we should talk about an IUL. I just set my 21 y/o son up with a policy. He'll pay $100.00/mo. until he's 65. From day one he'll have a $175,000.00 term policy. At 65 his cash value will equal the policy's face value. At that point he can continue to contribute and build wealth, take a lump sum or receive the interest as a pension type annuity. That best part is because it's post tax money there's absolutely no tax on any of it. (Basically a cross between a Roth and a Term life policy w/ the risk removed)
As an insurance agent with an annuity certification I'm not able to sell you anything that puts your principal or gains at risk. If you're old like me and in Iowa or a nearby state I would be happy to talk with you further on this.
However, if you're young (under 40) we should talk about an IUL. I just set my 21 y/o son up with a policy. He'll pay $100.00/mo. until he's 65. From day one he'll have a $175,000.00 term policy. At 65 his cash value will equal the policy's face value. At that point he can continue to contribute and build wealth, take a lump sum or receive the interest as a pension type annuity. That best part is because it's post tax money there's absolutely no tax on any of it. (Basically a cross between a Roth and a Term life policy w/ the risk removed)
As an insurance agent with an annuity certification I'm not able to sell you anything that puts your principal or gains at risk. If you're old like me and in Iowa or a nearby state I would be happy to talk with you further on this.
However, if you're young (under 40) we should talk about an IUL. I just set my 21 y/o son up with a policy. He'll pay $100.00/mo. until he's 65. From day one he'll have a $175,000.00 term policy. At 65 his cash value will equal the policy's face value. At that point he can continue to contribute and build wealth, take a lump sum or receive the interest as a pension type annuity. That best part is because it's post tax money there's absolutely no tax on any of it. (Basically a cross between a Roth and a Term life policy w/ the risk removed)
Question for you. I believe we have a “Whole Life” policy on my 3 year old that builds cash value. The product you describe seems much more interesting to me. Is this something that can be done for a 3 year old? Or does it need to be an adult?
Ya I was surprised you could get life insurance on a 3 year old and would be equally surprised if you could get an annuity for themI realize not directed at me, but my opinion is that the annuity company would likely not issue for a 3 year old . It is complicated but generally annuities are not designed and priced (from an actuarial standpoint) to be bought by anyone that age. Most people buying annuities are over 50.
General side comment. The purpose of life insurance is to replace a lost income stream a family depends on should the insured pass away. Unless you have a child in the unusual circumstance that they contribute to the family finances....e.g....child actor....I think most would suggest life insurance (or an annuity with a death benefit) is not necessary.
I realize not directed at me, but my opinion is that the annuity company would likely not issue for a 3 year old . It is complicated but generally annuities are not designed and priced (from an actuarial standpoint) to be bought by anyone that age. Most people buying annuities are over 50.
General side comment. The purpose of life insurance is to replace a lost income stream a family depends on should the insured pass away. Unless you have a child in the unusual circumstance where they contribute to the family finances....e.g....child actor....I think most would suggest life insurance (or an annuity with a death benefit) is not necessary.
2. Life insurance for children. In general, life insurance for kids is a huge waste of money. That’s because (thankfully) most children are born healthy and live a very long time. And since children don’t have any income, you don’t really have any reason to insure their lives, as cold as that may seem. Just because you don’t buy insurance doesn’t mean you don’t love your children. It means you are smart enough to put that money to better use–like saving for a college education.
Question for you. I believe we have a “Whole Life” policy on my 3 year old that builds cash value. The product you describe seems much more interesting to me. Is this something that can be done for a 3 year old? Or does it need to be an adult?
Question for you. I believe we have a “Whole Life” policy on my 3 year old that builds cash value. The product you describe seems much more interesting to me. Is this something that can be done for a 3 year old? Or does it need to be an adult?
As an insurance agent with an annuity certification I'm not able to sell you anything that puts your principal or gains at risk. If you're old like me and in Iowa or a nearby state I would be happy to talk with you further on this.
However, if you're young (under 40) we should talk about an IUL. I just set my 21 y/o son up with a policy. He'll pay $100.00/mo. until he's 65. From day one he'll have a $175,000.00 term policy. At 65 his cash value will equal the policy's face value. At that point he can continue to contribute and build wealth, take a lump sum or receive the interest as a pension type annuity. That best part is because it's post tax money there's absolutely no tax on any of it. (Basically a cross between a Roth and a Term life policy w/ the risk removed)
If your son invested $100/mo into a mutual fund that made 8% from 21 to 65 he would have $462,000 in that account at age 65.
I’m not understanding the benefit of this product to your son.
returns are tax free and he'll a $175,000.00 term policy to protect his family over the next 44 years.