Annuity Explained for Retirement | Do The PROS Outweigh The CONS

[@DiamondNestEgg]

Thanks for visiting our personal finance channel! We hope this free content will help fast-track your financial journey! Please note that there are questions/ comments which I will not be able to answer without fully understanding your financial, personal & other circumstances. Everyone's financial journey is different. If you wish to set up a consultation call & discuss whether we can help you on an individual basis, please complete the Work With Us form on our website: www.diamondnestegg.com Email us at [e-mail] or DM us for your life insurance and annuity needs - or drop us a comment below. POPULAR PERSONAL FINANCE PLAYLISTS Annuities For Retirement: kzbin.info/aero/PLsv_4H5rP97FD58emP6HEQCX_dIBRTaEg Retirement: kzbin.info/aero/PLsv_4H5rP97Ezg5K3FXLsBS8Xz2JCGiAI Life Insurance: kzbin.info/aero/PLsv_4H5rP97EiTHj1jmUf5wJn0uNbC8Gf Student Loans: kzbin.info/aero/PLsv_4H5rP97H4ZLmfeYfnpeGvgRhHOVlZ Investing: kzbin.info/aero/PLsv_4H5rP97HtL67HFjg5sFkvKz0sYxPj Credit Scores & Paying Off Debt: kzbin.info/aero/PLsv_4H5rP97FXfO4p_MvsHPxHGyR6HbES Budgeting for Beginners: kzbin.info/aero/PLsv_4H5rP97GiJsE9l3xk7XVSgN0UqpxS Emergency Funds & Saving Smarter: kzbin.info/aero/PLsv_4H5rP97HAQN6--XeMyXgKyXOfMuXW

[@tonys8613]

I wish you were my financial advisor!

[@Dnyce07]

Thank you for sharing your knowledge and experience, it's very helpful, much appreciated💯

[@HungNguyen-se8dn]

Fixed annuities only.❤

[@Peoriahiker]

Interesting, thanks for information. A few questions first, what is the actual cost of the stream of income vs the annual return of market plus dividends? What is the commission? What are is the annual fees? What, if any, is the surrender fee? Since growth is tax free, how is is better than a Roth IRA? Can I pass remaining balance upon my death to my children? Thanks, in advance, for your guidance.

[@Very_Concerned-Citizen]

I have an annuity with North American Company. The North American Company for Life and Health Insurance holds an A+ (Superior) rating from A.M. Best, an A+ (Strong) rating from S&P Global Ratings, and an A+ (Stable) rating from Fitch Ratings.

[@firstlast3192]

With regard to income annuities(immediate) where you hand over a lump sum to be annuitized. Why not just take your lump sum and divvy it up into a monthly payment for the time frame you are interested in and pay yourself? What is the benefit of handing it over to be annuitized and pay a fee?

[@Blublod]

The benefit is that if you are annuitized, the insurance company must continue to pay you even after you have used up all the capital and interest; this will depend on the term-certain and/or whether you chose "life" payments. If you divvy up your lump sum you will eventually run out of money and be left with nothing. Both scenarios assume that you will live long enough to generate a loss to the insurance company, or run out of money if you do it yourself.

[@jorgevelasquez9955]

Who rates annuities and what are the key factors to check for rating a particular company? Thanks in advance.

[@paulstevens2839]

when you purchase an annuity- you are simply funding your own pension for retirement. How can you go wrong with that?

[@affygordor4837]

This video is a very good education for those new to annuity. Thanks. 2. I really love your music. Pls who`s the artist and title of the track. Thanks

[@DiamondNestEgg]

I just spoke to our editor & he doesn’t have this info anymore - sorry!!

[@Shaniloka369]

I'm getting an annuity and pension but I would to know how to get most of these I have no idea. I have no kids or wife. What should I do?

[@GiantBlue1963]

1-3% expense ratio, whew that's expensive, sounds like annuities haven't caught up to the Bogle-revolution on squashing expenses to generate top returns.

[@jacquelinecunningham699]

Thank you! I have been worrying about my State Employee Retirement which requires annuity purchase unpon separation. Is there a good calculator for this?

[@jujubees711]

So glad I saw you did this video on annuities. You were very helpful with a question I had on I-bonds. My mother has her retirement in an annuity. It is over the FDIC insured amount. If she adds my name for protection, would her FDIC insured amount go up to $500,000 like an FDIC insured savings account? If not, what should she do and how can she divide up funds and avoid withdrawal taxes, if possible? The maturity date has been reached. Thank you!

[@DiamondNestEgg]

Annuities are not covered by FDIC insurance, but rather by each state’s insurance guarantee association - in the event the insurance company fails. You'd need to check with your state's insurance guarantee association regarding limits.

[@garyrhode3755]

What would you suggest a highest amount of money to have in any one Annuity?

[@josevalverde2263]

If insurance company collapses as in 2008,what then?

[@rizalinocanezo4404]

What is meant by "no value"? Because of the trend of the market, my account says "no value? Is my money gone?

[@tonys8613]

Are you going to address the purchase of precious metals in the future as a hedge?

[@DiamondNestEgg]

I can add it to our long-list - we have quite a few other videos to work through first

[@SnowyCountryChicken]

Didn't Empower acquire Mass Mutual?

[@DiamondNestEgg]

Not the insurance side from what I understand

[@tadrod2323]

is HYSA at 4.9 % better than annuities?

[@pjacob45]

For whatever it is worth, the background music adds nothing. In fact, it distracts from trying to focus on what you are saying. It's not like you attract an audience with a short attention span, and doesn't want to focus. Or needs a music track to stay interested. Nope, we are interested already.

[@DiamondNestEgg]

Noted

[@helenveasey7318]

@@DiamondNestEgg Yes, the music is distracting to me. I rather just hear the words spoken.

[@jeff-ds2pr]

There's another poster above who actually loves it, and want's to know the name and author. lol Guess some people are really into elevator music.

[@eddenoy321]

I have had an annuity for 8 yrs and have paid off nearly half of my original premium . I am interested in another SPIA or MYGA . May I contact you ?

[@DiamondNestEgg]

Hi Ed - Thanks for reaching out, but unfortunately, I'm not taking any new clients at this point. I can connect you with someone that I've worked with on this though. Drop us a note at [e-mail] if you're interested.

[@mel-in-portland]

Love the video! You mentioned that Mass Mutual paid 5.6% and Guardian paid 6% in dividends in 2021. Curious about what happened in 2022 with the bond market doing so terribly... did the dividends hold up? Have there been any years when they have not paid?

[@josevalverde2263]

Is it inflation adjustable?

[@shelleycharlesworth5177]

I’m 76 and have about $290k in an annuity. I have had to take distributions since I was 70 1/2. The company- Venerable- keeps sending me letters saying I can take a certain amount of money each month for "the rest of my life". I think the last letter said the amount was $2,200 a month. If I live 10 more years I would be 86. So if I was to do that- take the $2,200 “ for life” right now, the money would be almost all gone in 10 years by the time I turn 86-right? I really do not WANT to live past age 86 but if I did, would they still keep paying me? $2,200 a month x 12 months= $26,400 a year $26,400 a year x 10 years = $266,200

[@joannhuebscher8711]

What is the difference between an annuity and whole life insurance policy?

[@DiamondNestEgg]

These term vs whole life insurance video should help: kzbin.info/www/bejne/jWG4h6KQg9dpkKc

[@georgemarsilio5122]

does,a fixed annuitie increase payouts with inflation

[@firstlast3192]

If I start say a 7-year FIA and attach an income rider, do I have to keep that 7-year FIA till I die in order to get the guaranteed income for life stream from the income rider? If so, and on the way to my death date (paying 1% or more annual income rider fee) and I turn on the income stream at some point, am I depleting the FIA until zero and then the income rider kicks in?

[@antionygrilmady9044]

The returns of annuity is way too low

[@jeff-ds2pr]

To me, they only make sense if your family tends to live forever, into their 90s. For a male in the US the average life expectancy is around 77 (and dropping). You are just paying for a piece of mind, just like some people can't handle investing in mutual funds and throw all their money into CDs and savings account for returns that barely keep up with inflation.