Understanding the Pros and Cons of Annuities with Stan Haithcock

[@rick_vv7754]

MYGAs are offering some good rates currently with rates above CDs and USTs. I am retired and thought about buying a SPIA in the future but on the fence as there are a lot of pros and cons. One new benefit is that Section 2.04 of Secure Act 2.0 allows the payments from a SPIA in an IRA to lower RMDs for your other IRAs because SPIA rates are typically higher than RMD rates and IRS looks at all IRAs as one big IRA.

[@rick_vv7754]

For longer term annuities, credit rating matters as mentioned. In addition, best to avoid insurance companies that are owned by private equity companies because many are domiciled offshore and use GAAP accounting (to boost credit rating) rather than the more stringent Statutory accounting that is used by US based insurance companies.

[@wtcneverforget8163]

As far as MYGA's go, I bought a 2 year CD at 4.9% with the intention of turning it into a 5 year CD to bridge me to SS when it matures. According to thsi video it sounds like a MYGA would of been the way to go?

[@nellaikswokub139]

Great presentation, thanks gentlemen!

[@grigorirasputin425]

Next video will be "understanding cryptocurrency "?

[@janshuster1426]

So " What did the Rockefellers do "