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Personal finance expert changes tune on SPIAs

Personal finance expert and columnist Jane Bryant Quinn says she has changed her views on single-premium immediate annuities, as their prices have become more attractive relative to bonds. “They’re especially worth considering for people who are getting older and think their savings is going out the door faster than they…

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SPIAs can offer income stream while delaying Social Security

Retirement savers who want to defer taking Social Security payments can arrange to have a regular income stream by purchasing a single-premium immediate annuity. SPIAs offer peace of mind and a way to protect assets, advisors say. CNBC

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Factors to consider before doing an annuity exchange

Former Treasury Department policy advisor Matt Carey reviews factors annuity owners should consider before going ahead with a 1035 annuity-to-annuity exchange. These include current rates, the surrender schedule and the intended goal of the new annuity. Forbes

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Advisor: Annuities good long-term pick for retirement portfolio

In today’s low-interest environment, annuities are good products to fill the long-term portion of a retirement portfolio, according to Ephie Coumanakos, co-founder and managing partner of Concord Financial Group. “It is hard to take one’s nest egg and make it last for a long retirement, which is why fixed-indexed annuities…

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Experts: Risk aversion, low interest rates to spur FIA sales

Fixed-indexed annuity sales in the first three quarters of 2019 rose 13% year over year, according to the LIMRA Secure Retirement Institute. Experts expect sales to continue to grow in 2020, spurred by investors’ desire to mitigate risk, low interest rates and a move away from commission-based products toward fee-based…

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Advisors weigh in on variable annuities exchanges

Financial professionals offer their opinions on when recommending a 1035 exchange of one variable annuity for another is a good idea. “It’s important to consider the annuity within the context of the person’s financial plan and risk tolerance rather than to think of it as a standalone asset,” says Cody…

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Will other states follow N.Y.’s lead on annuity rules?

Annuity and life insurance agents are waiting to see whether New York state’s approval of tough rules for these products will lead to the adoption of similar measures in other states. A number of financial professionals weigh in on the chances, with one saying that “New York, because of its…

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Survey shows why consumers may shy away from annuities

A survey by the Alliance for Lifetime Income reveals potential impediments to consumers purchasing annuities, including fear, apathy and a lack of money. Members of the Insured Retirement Institute and the National Association of Insurance and Financial Advisors held conferences last week to discuss the retirement savings gap. ThinkAdvisor

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Aging population fuels demand for annuities

Asset managers are expected to look for markets and products to offset the effect of fee compression, despite continued growth in global assets under management, according to a report from Cerulli Associates. In the US, an aging population is driving interest in products such as annuities, the report states. PlanAdviser…

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The rules for fixing a missed RMD

It can be easy for retirees to make mistakes with required minimum distributions, but the Internal Revenue Service may grant taxpayers a reprieve from the hefty 50% penalty they would normally face. Taxpayers must be sure to remedy the situation and file a Form 5329 for each year in which…

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