Choosing the Right Annuity For Safe Growth in Retirement

Understanding retirement planning and how fixed indexed annuities grow and whether or not to choose one is a very important part of putting together your financial plan for retirement.
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#Annuity #retirementplanning #TroySharpe
Working with a CFP® professional can be an important step toward reaching your financial goals. Not only do these advisors meet rigorous education and experience requirements, but they are also held to some of the highest ethical and professional standards in the industry.
Education
CFP® professionals must master nearly 100 integrated financial planning topics, including:
Investment planning
Tax planning
Retirement planning
Estate planning
Insurance planning
Financial management
In addition to completing a comprehensive financial planning curriculum approved by the CFP Board, or equivalent academic coursework, CFP® professionals are required to complete continuing education coursework, including a CFP Board approved code of ethics course, to ensure their competence in financial planning.
Examination
CFP® candidates must pass a comprehensive 6-hour CFP® Certification Examination that tests their ability to apply financial planning knowledge in an integrated format. The exam is notoriously difficult and only 64% of people who took the exam in 2017 passed. Based on regular research of what planners do, the exam covers:
Establishing and defining the Client-Planner relationship
Gathering information necessary to fulfill the engagement
Analyzing and evaluating the client’s current financial status
Developing recommendations
Communicating recommendations
Implementing recommendations
Monitoring the recommendations
Practicing within professional and regulatory standards
Experience
CFP® professionals must have a minimum of three years experience in the personal financial planning process prior to earning the right to use the CFP® certification marks. As a result, CFP® practitioners possess financial counseling skills in addition to financial planning knowledge.
Ethics
As a final step to certification, CFP® practitioners agree to abide by a strict code of professional conduct, known as CFP Board’s Code of Ethics and Professional Responsibility, that sets forth their ethical responsibilities to the public, clients and employers. CFP Board also performs a background check during this process, and each individual must disclose any investigations or legal proceedings related to their professional or business conduct.
This video discusses fixed income investing and utilizes the 10 year U.S. treasury as a general representative fixed income investment. Conclusions reached, opinions stated, and downside risks and potential returns presented should not be construed as applying to other types of bonds or fixed income assets. Other types of fixed income products carry different levels of risk and return potential and should be evaluated as an element of a diversified portfolio with your specific risk tolerance, investment objectives, and timeline in mind. Nothing in this video is investment advice, an investment recommendation, or an offer to buy or sell any security. Investing involves risk.
Do you need a retirement plan beyond allocating funds to truly fit your needs? We can help you create a retirement life plan customized for your retirement vision and legacy. Call us at [phone] or fill out this form for a free consultation: click2retire.c...

[@stevemlejnek7073]

Great video Troy. Thank you. I will continue to follow along in this series!

[@swright5690]

Good job Troy. Your brain is smart.

[@OakHarvestFinancialGroup]

Lol thanks @swright5690!

[@snowmass5310]

Thanks for the great video , easy to understand

[@nickitab1]

Great information 👍

[@g.ajemian4968]

Can you provide the link to the interview and you said you were going to do with the gentleman? Who does the readings for the index within the annuities

[@OakHarvestFinancialGroup]

Hi @g.ajemian4968, we haven't been able to connect with him yet, but are hoping to get something on the books with him in Q1 of 2024. We can circle back and let you know in the comments once we've done this!

[@urbanart7325]

So backtesting using Monte Carlo is also irrelevant

[@richmmdt6970]

ALTHOUGH ANNUITY IS NECESSARY BUT HAVING STEADY INCOME IS MORE CRUCIAL FOR YOUR RETIREMENT PLANNING. Big ups to everyone working effortlessly trying to earn a living while building wealth. I'm 40 and my wife 34. We are both retired with over $3 million in net worth and no debts. Currently living smart and frugal with our money. Saving and investing lifestyle made it possible for us this early even till now we earn monthly through passive income.

[@a-borgia4993]

When I own mutual funds, it is 100% liquid and there are no surrender charges. And no 10% commissions. I am completely lost. FIA is not an investment, it is savings, so why compare against the SP500. Why not just pay 6%? Why these complicated calculations and 300 page contract documents? FIA are the insurance company dream to ripp of consumers. Why if FIA is so great why not put 100% in an FIA?

[@OakHarvestFinancialGroup]

Hi @a-borgia4993, we would never recommend being 100% in any one option, we believe having a diversified portolio is one of the greatest ways to safeguard your savings. Each product also has different benefits, and so it's great to know you have options depending on the different goals and route you want to take in your retirement! That's really our purpose in making these videos - to provide visibility not only into the different options out there, but to also see what each could look like long-term in different scenarios. We recommend working with a certified financial planner to come up with the best plan for your own unique situaton and goals! Thanks so much for watching and weighing in. PS. We did a video recently addressing some of your objections to Annuities - you should take a look! kzbin.info/www/bejne/ioGmcp-jd8yehLs