Every Retiree Should Know About THIS Annuity! 😱

[@MedicareSchool]

✅ Watch the internet's #1 Online Medicare Educational Workshop for FREE: get.medicareschool.com/3IWAlon ✅ To get 1 on 1 Help from our Team, Schedule a Call Here: get.medicareschool.com/3CaNq9w

[@lolalucky6373]

Can we get Medicaid and Medicare in same time pls explain and thank u 🙏

[@keithmachado-pp6fv]

We all have an annuity that beats any other. It’s called social security and comes with a cost of living increase and at least 15% is not taxed and in my state there is no state tax. Combined that saves me 10% on my tax rate vs other income. It’s the only annuity I need. And I didn’t pay fees to get it.

[@paulbrungardt9823]

Social Security scam is a tax on the gullible & stupid. If the government did not run it, it would be illegal. During working years, you contribute funds and should gain equity; when you die, your heirs do not inherit it. The government becomes the be beneficiary. Suckers game we are forced into.

[@Jazna1]

Retired in Jan., figured out by end of March that depending on a 4% monthly from the 401(k) was not a stable income so purchased a $450,000 variable rate annuity (VRA) from Fidelity with 2/3 of my 401(k) funds. As I understand it, the income stream can't go down but it can go up if the market goes up over a certain amount. It's awesome and the income lasts until I die. If I die in a year, there is a named beneficiary to the VRA. Between Social Security and the annuity, I feel very safe about my income for the rest of my life. I still have $200k in the 401(k) that can grow at market rate. I was a legal secretary for most of my career, not some high-paid exec, but I started contributing to a 401(k) in my 20s and over the years it was like magic! That compound interest, combined with a fairly "aggressive" investment strategy, is nothing short of miraculous. Don't delay, kids, start saving every month as soon as you get a job. You can only afford $25/month to start out? That works! Just do it. BTW I was scared to death of the whole Medicare thing for an entire year before I retired at age 66. I had NO ONE to talk to about Medicare and retirement in general, so I watched a LOT of Medicare School vids on YT and when I did finally retire, I was able to get set with Medicare (original Medicare coverage with a good supplement and a Plan D). Thanks for the amazing information! I don't know how people get through all this stuff on their own. It's really intimidating! I relied heavily on Medicare School for keeping myself calm and becoming educated for the past two years. You have to advocate for yourself in old age and you will feel more confident if you have knowledge -- so you need to educate yourself even though it is really scary and tiresome. Thank you, Medicare School! And good luck to us all.

[@vickiewilkins1579]

Just like we invest early we need to research our options for early retirement like healthcare and investments.

[@gabrielsyt]

Great job saving for retirement. That is awesome!

[@Frances-Joy]

I researched annuities for over a year. I ended up purchasing a Single Premium Income Annuity. Know unknowns...I get $1600/mo for lifetime, period. No more fees.

[@MedicareSchool]

Thank you for sharing.

[@Slo-ryde]

What happens if you should pass-away prematurely?…. Do you have a death benefit rider?

[@GETole]

How much $$ did you put in the annuity for the $1,600 per month?

[@GETole]

With a rider, you're paying with your $$ to keep more of your $$. LMAO.

[@bruceeigsti5274]

how much u put into it

[@MariaGarcia-gv8hj]

Thanks for increasing my knowledge in personal finance and investment, I recently subscribed to your channel. I want to give a big shout-out to all those working tirelessly to earn a living and build wealth during this recession. My husband and I are both retired and debt-free, and we're living smart and frugal with our money. Despite the recession, we're still earning passive income thanks to our savings and investments in the financial market. Investing lifestyle has enabled us to earn a steady monthly income through passive means, and we're grateful for it:;'

[@quin5155]

Congratulations on your early retirement, Interesting indeed! Currently, I am in dire need of investment advice or tips. Earlier this year, I hesitated and failed to take any action until now. However, I am determined to try something new, as I am very receptive to various investment ideas. I want to be retired in my forties or fifties:)

[@MariaGarcia-gv8hj]

No problem at all! If you're seeking to earn substantial profits from your investment, I would suggest determining your investment horizon and implementing a long-term plan. I worked with Lewis James Godfrey to create a long-term investment strategy, and he assisted us in managing our investments while we focused on my jobs without any concerns.

[@quin5155]

Thank you for your advice. It's challenging to find a reliable investment advisor here, and I appreciate your input. Seeing the success you've achieved through investing, I would love to have access to your investment advisor's information if you wouldn't mind sharing it.

[@MariaGarcia-gv8hj]

I work with *LEWIS JAMES GODFREY,* who is based in the United States. If you would like more information about him, you can conduct a search online. He even got featured on CNN recently.

[@paulmanfred9496]

Glad to see this comment, Working with a skilled financial planner can be compared to having a mentor in the field of finance. I used to struggle to invest on my own and ended up losing money, but things changed once I started working with this same man, Lewis James Godfrey. He played a pivotal role in helping me improve my financial situation. Previously, I relied solely on my job and salary for income, but now I have found ways to generate additional income with ease, which has allowed me to leave traditional employment, thanks to Lewis. Nowadays, I believe that investing is not a choice, but a necessity for anyone who desires financial independence and a good quality of life.

[@DLTJR1959]

We retired this December 22 with social security and my 30 year state retirement. Paid 6% into it for that amount of time. So blessed and fortunate. Great informative video. Thanks.

[@MedicareSchool]

Thanks for sharing!

[@ADAdams-wn1nc]

Really need to break this down to basics like Marvin does with Medicare.

[@MedicareSchool]

Thank you for that input.

[@jozzio720]

In the right situation these annuities work great to build the income bucket. He is correct about using thses within 10 yrs of retirement to help build the initial income stream, but I have also used these for people close to retirement that have the initial income stream set and let it go the full 10 yrs so they have an early to mid retirent inflation/longevity income bump they can count on instead of doing an immediate annuity at the time with any extra cash for the extra income as he mentions if you have the cash to work with it takes a lot less to achieve the desired income.. The whole picture is more about cash flow than it is about growth, the only thing you have control over is risk exposure.

[@MedicareSchool]

Thanks for the insight.

[@jaspermack176]

you didnt talk about fees!!!

[@njlifeandhealth]

Annuities vary as an investment vehicle depending on the times, and now is a great time! Thanks for the vid

[@MedicareSchool]

You're welcome thanks for watching.

[@zaq55]

The main argument against this arrangement as described is the one negative to all annuities: You are looking at this from a “Present Value” perspective. The 7% growth rate for 10 years is a great deal. But it’s in 10 years. Inflation will have reduced the buying power of that amount. But the main inflationary drawback is that once the $200k is annuitized and turned into an income stream, it is fixed. Not just to the downside, but also to the upside. There is no more growth or compounding. If you live 30 years into retirement, that fixed $1,167 / month will have lost a great deal of buying power thanks to inflation.

[@Blublod]

You are spot on. The only way to mitigate this erosion without the costly rider is to take the annuity for a term certain as opposed to lifetime. Yes, you will consume all the principal within that certain term and you won’t get lifetime, but your monthly income will be way higher and the inevitable inflationary impact will be significantly reduced.

[@zaq55]

@@Blublod And if you have excess from that higher monthly payout, I’d invest it growth assets to help stem inflation.

[@g8way2k1]

Between the wife and I we collect on 3 defined benefit pension plans and Social Security. Also invested in a Deferred Compensation Plan that helped pay off our home in the later years of the mortgage. Guess you can say we chose a relatively safe route, but the DCP was a little rocky being in the stock market side - but that came back strong. One thing this gentleman forgot to mention was that there is at least one hole in each of those buckets he used as a metaphor, and that would be "fees" which of course reduce the returns. And from what I hear, they are high. Interesting video, thanks!

[@ilikecontent2327]

Correct! Fees can eat into your returns! And the fees can vary. We went with our employers investment group. They were highly rated in Consumer Reports and the fees were lower than the general public. So yeah... It makes a difference. The 401k plans companies migrated to were meant to put the burden of investment risk and costs onto the employee. My husband and I both have government pensions(state) as well as annuities through that state employer so the fiscal responsibility is better. 👍 We both will also collect Social Security... 😊

[@DLTJR1959]

Bingo. These "financial advisors" promote the positives but never the costs. We have funds in ETF's and the fees IMHO are reasonable and less costly than mutual finds.

[@ilikecontent2327]

@@DLTJR1959 Yes. Exactly. Many companies are more worried about keeping their share holders and CEO's happy and could care less about whether or not their employees portfolios are making enough interest to cover fees. They figure it is up to you to invest wisely. One less thing for them to worry about.

[@philip5899]

Don’t you see why he looks just like a used car salesman 😊!

[@Blublod]

@DLTJR1959 - they also never talk about the hefty commission they make when they sell you an annuity. About $40,000 on a $500,000 annuity.

[@Blublod]

I don’t know about those 10 years from retirement you mention. In 2006 I converted an insurance policy into a variable annuity with $46,000, and by 2023 it had grown to just north of $200,000 just when I was getting ready to annuitize. While it’s true that in that last year I watched the thing go up and down like seesaw, which was indeed nerve racking, I don’t think the initial principal would have grown as much had the annuity not been variable.

[@reason2463]

My problem with my fixed indexed annuity is that the cash benefit is fixed at the time you start receiving benefits. There is no adjustment for inflation. In our modern economy, this is a deal breaker.

[@MedicareSchool]

Thanks for sharing.

[@nagesh23nayak]

There are some annuities out therelike Athene Agility where income grows by rate every year

[@Slo-ryde]

Which is why he spoke about the “ income rider” added to a fixed rate annuity

[@zaq55]

You have discovered the single biggest flaw of annuities

[@Blublod]

The income rider will cost you dearly as it will reduce the annuitized monthly amount by a significant factor. These companies don’t give anything away.

[@kenbollman2540]

Beware of such complex investment options that pay high commissions. Do your homework, there are numerous possible pitfalls with these that Steve doesn’t mention.

[@MedicareSchool]

Thank you for the feedback.

[@angelarasmussen3884]

Income riders require a FEE

[@4378200]

What do you think about the sign on bonus. I was offered $30 less taxes to a sign on an annuity

[@Paladin_Strategic]

Interesting presentation. What worries me is the US economy seems to be heading for hyper-inflation and the signals from most indexes seem to indicate a long-term pullback. Compound this with the apparent decline in insurance company stability and a FIA just seems to be a poor risk. What am I not seeing? Thanks.

[@MedicareSchool]

We have recommendations for very stable carriers. If you have any questions please, feel free to give us a call at 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc

[@jjgreek1]

Yes great…but what are the fees?

[@MedicareSchool]

My team would be happy to assist you. Give us a call at 800-864-8890 or schedule an appointment at www.medicareschool.com

[@urbanart7325]

What about immediate annuity?

[@dougcjohn]

Great information, how do we know when we’re buying an Annuity with the Income rider? Are there any Company Names or Annuities you can provide for us to look at?

[@edwardhousemaniii2732]

Guaranteed income, just like my SS check, i sleep very well every night, i know my income amount, thanks guys

[@repriser9876]

If you think about it purchasing an annuity means you hire someone to manage a continous life time monthly income by paying now ahead of time. Like hiring anything, so you don't have to worry about managing anymore for the rest of your life. On the other hand, think what are you paying for? What is in it for them who you hired? Why are they actively seeking them or you actively seeking them?

[@Very_Concerned-Citizen]

The annuity has no inflation adjustment.

[@danielhurst8863]

Annuities can have a cost of living rider, but in this case, you are not taking the annuity for monthly payments, but as a safe place to allow money to grow tax deferred until you retire, then you take the lump sum. You could roll that into an immediate annuity with a cost of living rider.

[@1977Kingsolomon]

By far, the best breakdown of these topics ❤

[@MedicareSchool]

Thank you for watching

[@almoemason]

So, what happens if you buy a fixed annuity and the company you bought it from goes bankrupt?

[@Pmc1744]

can someone tell us what happens if the co. goes bankrupt is it insured and for how much.

[@debbiea1851]

That is my husbands concern

[@Blublod]

Annuities are backed and regulated by the state in which you live, so should the company go belly up you will be protected from loss by your state. I believe this is not the case in US territories such as Guam and Puerto Rico should you happen to live there.

[@jenniferblanchard4856]

@@Pmc1744 Only go with an annuity company that has a solid rating. States also insure the annuity if they go bankrupt for a certain $$$ but it is up to the individual state. You should be able to google it for your state.

[@KateWils1]

Marvin, does your agency broker these? Watching all your videos as we plan for nearing retirement. Thanks!

[@MedicareSchool]

Yes we do, you can contact our office at 1-800-864-8890. We would love to help!

[@johntrimmer1706]

Remember fixed annuity has no inflation adjustment, unless SS or government. Pensions.

[@MedicareSchool]

Thank you for the input.

[@Slo-ryde]

Then You add an income rider to it.

[@144Donn]

The first time I heard about annuities my question was: How are you going to create \generate this kind of money? It seemed to be hocus pocus and a scam job! Perhaps a little more explanation of this process? In other words, if generating money was SO EASY, wouldn't everyone do it on their own? What is unique about the annuity and the company providing it which makes this possible?

[@ShiraLaya0312]

One more benefit of the annuity I have is that it will pay out double for five years in the event that I need long term care

[@marantz747]

3 years zero%

[@vickiewilkins1579]

How much money you need to start an annuity?

[@MedicareSchool]

Depends on the type of annuity. If you have any questions please, feel free to give us a call at 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc

[@eddieandujar6506]

Outstanding information. I’ll be using this information soon.

[@MedicareSchool]

Great!, thank you for watching.

[@MedicareSchool]

If you have any questions please, feel free to give us a call at 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc

[@dsmith4140]

So, on indexed Ann. If market goes up 20%, could it still limit you at 6%? So , what is the limit to how much you earn in positive uptrend.

[@kristiduncan8356]

It differs by the provider based on their cap rate and participation rates.

[@angelarasmussen3884]

Limited growth potential is a price you pay as well as the rider fee eats into growth also. Not sold that way

[@garymarshall7410]

Can medicare school offer advisement on annuities?

[@SuperMatrix59]

When u are retiring you dont buy THE POTENTIAL. you buy the acutual. Potential in retirement is money down the drain.

[@vchavez75]

Who guarantees the principle in an annuity?

[@kristiduncan8356]

It is guaranteed by the provider.

[@delayedgratification581]

You selling it right

[@kollettebryant3432]

I'm retired. Ss, pension, defined benefit plan. How do I create income if not w/an annuity?

[@pyamane8115]

This is talking about retirement planning. The title of the video is misleading about retiree. As a retiree, does the fixed indexed with income lock up the funds for a period of time?

[@MedicareSchool]

Thanks for the input.

[@catherinekuntz8306]

I have 2 pensions

[@dblungm]

I’ve been retired for 2 yrs and I’m currently not drawing from IRA’s or taking SS. I have about 1.3M in investments ( including IRA) I’ve planned to start moving $ from IRA to Roth starting in 2024 while in a very low tax bracket. I’m thinking the a Fixed index might be a good option? If you use an income rider does this product still have a death benefit?

[@Blublod]

It would have a death benefit if it’s taken out jointly, but that income rider will cost you dearly in the annuitized monthly.

[@anavellabick1434]

how about only SSA FIXED INCOME..?

[@Savannah-ed4rv]

Thank you for this. I have been investigating anmuities. How do we contact Steve? Nothing wrong with a guarantee!

[@MedicareSchool]

You're welcome! you have any questions please, feel free to give us a call at 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc

[@HomeOrchard]

Is this fixed indexed annuity with a guaranteed income rider the same as a Hybrid Pension which other Medicare brokerages are marketing?

[@MedicareSchool]

My team would be happy to assist you with setting up your Medicare coverage correctly. Give us a call at 800-864-8890 or schedule an appointment at www.medicareschool.com

[@ianwarren3588]

Annuities r a rip off..they say u get whatever 5.9% interest...but all you get is your money an .9 to 1.5%. Totally rip off.

[@knightalumni]

Or just put your money in SCHD, live off the dividends, and enjoy the annual raises that will most years keep pace or exceed inflation, plus you keep ALL the gains. Cut out the middle man…

[@Nick-kc9mz]

Great video. I became disabled 6 years ago, and not able to work. Can a annuity work for me if I technically "retire" in August? I think not, but need to think of an extra stream of income besides SSI. Thank you!

[@MedicareSchool]

If you have any questions please, feel free to give us a call at 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc

[@steves3234]

This is a very interesting option. How do I find someone to help me investigate this?

[@MedicareSchool]

If you have any questions please, feel free to give us a call at 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc

[@louielefevre3152]

Sir ... Excellent presentation! Thank for having Mr. Strickland onboard for this clarifying explanation. If I may, how would I contact Steven directly? Love your video channel and do share it with many of my friends and colleagues. Again, well done!

[@MedicareSchool]

You're welcome! Thankbyiu for watching. you have any questions please, feel free to give us a call at 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc

[@cathyP1961]

What if you buy annuity and then one spouse needs nursing home care years from now ?

[@Slo-ryde]

Then you should add a “ longterm care” rider onto the annuity, which serves to supplement enough money to meet the long term care expense in addition to base income that you get… but there is a charge for this !

[@evansdolyna7]

Wish i new this 10 years ago.😢

[@MedicareSchool]

If you have any other questions or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890

[@c.oliveira4919]

Nonsense forgot to mention fees ?

[@angelarasmussen3884]

That’s the sales gimmick and troubling

[@vinnyg2619]

Interesting video! I'm not an annuity person other than a small pension I will get and SS that's as far as annuities I will have. If a person/couple wouldn't lose any money it may be a good idea to get an income annuity early on, not sure what happens if the insurance company goes out of business. Assuming it grows at a decent rate it could be a nice amount if it was started early enough to grow substantially. I would think as we get close to retirement and didn't buy an annuity early, if we need that income we should weigh buying an annuity vs waiting to collect SS as every year after FRA it goes up 8% a year if need be - in the example shown the money doubled in 10 years but if we don't have a long time line it may not be worth it.. Something that was mentioned and it's based on today's rates is that brokered CDs are running over 5% APR not 2% as mentioned. They are FDIC insured but you need to buy them from a broker. Short term T Bills also are running above 5% APR.

[@randolphh8005]

Most annuities are guaranteed by State insurance funds, but obviously confirm that

[@vinnyg2619]

@Randolph H thanks for the info! I'm not looking to get into annuities at this point, I would need to really research annuities to feel comfortable with them.

[@randolphh8005]

Yes, careful with annuities as they can be complicated and have hidden costs. However, we bought some QLACs (deferred annuities) kicking in between age 82-85, to protect against the loss of one SS check. Basically longevity insurance, with about 9% of our portfolio invested. This will allow us to be more aggressive with portfolio draw downs

[@philip5899]

The quick answer is DON’T buy an annuity! Do you think for a minute that you’d come out ahead of the insurance company???

[@randolphh8005]

@@philip5899 Annuities can have a purpose, and the answer is that, yes if you live long enough you will come out ahead. However, if you don’t you won’t. Annuities are an insurance product. They are not necessarily the best investments, but neither is any other type of insurance that most of us carry. Before making blanket statements about annuities it helps to educate yourself about when they might be useful, and when not so much. Read some research on annuities from people who don’t sell them, like Wade Pfau PHD, who is a retirement researcher.

[@tajmulhall]

So is a five year cd a fixed annuity since it makes me 5% per year

[@timsatterfield9752]

A CD is issued by a bank. Very similar to a Multi-year guaranteed Annuity which is the Insurance company’s equivalent of a CD.

[@Slo-ryde]

I don’t there are too many banks offering CD’s for 5 years at 5%….unless the CD is callable…. Because they know rates will be dropping in the near future!

[@karenhodge3994]

I am 70. Is it too late to get a fixed index annuity with income rider?

[@MedicareSchool]

If you have any questions please, feel free to give us a call at 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc

[@zaq55]

It's never too late to buy an annuity.

[@bryanvoyek5717]

IF you take the life time income stream and you passaway after 2 years . what happens to the balance of your money? is it a death benifit to your family?

[@MrTargetone]

Insurance company gets all your money. That's how they can afford to pay others that live well into their 80s, 90s or beyond. They count on the insureds that only survive a few years.

[@Jazna1]

I'm no expert but the Fidelity annuity I just purchased requested beneficiary information so presumably whatever remains at my death goes to the beneficiary.

[@MrTargetone]

@@Jazna1 If you signed a contract for a guaranteed term (i.e. 10 years) and you don't live that long, then your named beneficiary will continue to receive the payments for the remainder of the TERM LENGTH you signed up for.

[@ggfarmgirl8350]

Aren’t annuities usually pretty fee heavy?

[@MrTargetone]

@@ggfarmgirl8350 Yes, very fee heavy. You are better off with bonds or cds with Fidelity or any broker that charges NO FEES. CDs are over 5% right now. Even Fidelity Money Markets are close to 5%. FEE FREE, NO RISK, YOUR MONEY TO DO WHATEVER YOU WANT WITH WHENEVER YOU WANT!

[@lynnhoffman247]

Annuities are notorious for having high fees on the front end and even worse fees for surrendering. Bad advice!!

[@Slo-ryde]

Not really true, unless you affix “ riders” to the annuity …. Not sure where you get your info from….. the only one I would stay away is the “ variable rate “ type, where you could lose your principal in a down market!

[@markdavis1116]

Excuse me!!!!! Have you never heard of the Teamsters? IBEW? AFL. UNION workers have PENSIONS!!!

[@drivesecure2476]

i have a question i see on y tube all these video about more money starting in july 33 states will add money to your ss , ssi or ssdi check until the end of the year about 100 per month is this real or just crap for these people to get more views heard nothing about this on the news did not get an email or letter fron ss either thankyou !!!

[@MedicareSchool]

There was a 8.7% increase to Social Security, COLA, cost of living adjustment for 2023.

[@drivesecure2476]

@@MedicareSchool hi yes i know about the 8.7 so this other is just b / s to get views they sure make it sound like its true some guy today he was doing a live on y tube and someone ask him if this is b /s and he said no on his baby life its real what a total scum bag thankyou

[@MedicareSchool]

You're welcome. Thank you for watching and checking in with us.

[@johnadair6108]

There's no confusion. If an insurance company is involved. It's good for them, not the customer. Don't be stupid, people!

[@zaq55]

The sales rep will never tell you the downsides.