Guaranteed Income For Life 2023

[@2023Red]

You make sense. There exists a number of choices in addition to yours. I would start by reducing living costs by up to 50% based on your example couple. Two major expenses are housing and transportation. And picking Medicare original supplement g or n. Pick a home with no hoa. And small such as 1200 sf. And a suv like rav4 or crv that is coming off lease. 3 years old. And consider a retiree favorable state to live in. I like Texas and Arizona. Avoid taxes like ny and CA. And do not go to restaurants at all. These measures will cut your expenses in half perhaps. They did for us. And we are in our 70s.

[@derkong7114]

You have an excellent plan... Well done!

[@robertbass974]

The main downside is that taking lifetime income is that even post taxed income becomes regular income for the rest of your life on an annuity. If I would have left it a 30 yr period certain taxes would have been only on interest and not principal and my payouts would have been similar.

[@davidjohn4326]

Another great white board example , easy to understand... Thank you for teaching me about all the options to examine in retirement.

[@doordiariesre]

This was so informative. I appreciate you taking the time to research and put together such a comprehensive video.

[@ricks3344]

Guaranteed for life as long as the insurance company doesn't go out of business.

[@chriseaton2374]

Hi Hans & Tom - good video - can speak a little more about how these things are taxed as far as the initial withdrawal from the 401k and the how the annuity income is taxed? Are both just like regular income? Thanks. Chris

[@CardinalAdvisors]

Chris If you use 401k to buy this, we roll it over from the 401k to the IRA so there is no income tax due right away. Taxes will be at ordinary income rates when you start withdrawing income. Great to hear from you. Thanks for your business. Hans

[@scottprice4813]

The problem for me is - what if inflation is structural at 4 or 5%? No protection. I’ve shopped 3% inflation protected annuities - too big a haircut to the starting income. Secondly what about the bigger tax bill when the exclusion ratio runs out?

[@ToddM452]

I like it you might be hearing from me.

[@stevemlejnek7073]

Does the health care doubler rider still kick in if the contract value has gone down to zero?

[@CardinalAdvisors]

No it does not. If you start the income at a younger age and need LTC when you are older, the doubler might not help you

[@johnsmith100]

I tried listening to this. The narration is so slow, and low energy, that it was impossible for me to continue. And I could not really understand what this video is suggesting at all. Quite disappointing.

[@denny5564]

Boy, Sounds like a good way to cover your medicare cost! But, boy, Don't you think our 6.5% Inflation rate is going to wipe out your return over the years?