Annuities - The Rook
Just like in chess the Rook is a very important component to a seamless winning strategy.
This piece can move up and across the board by applying offensive pressure and backing up “protecting” other major pieces and strategies!
Knowing you have reliable sources of protected income – lifetime income you're guaranteed to receive – can be a great way to plan, help manage your budget, and sleep well at night. There are only three sources of protected income for retirement – Social Security, pensions, and annuities. Since fewer and fewer people have pensions these days, a protected income source that can help fill this gap in guaranteed income is an annuity
In today’s customizable, satisfaction-guaranteed world, it’s no surprise that you want a financial option in retirement that provides both guaranteed income and protection from market volatility. You also need an option that can combat inflation as well as provide a death benefit in addition to future wellness planning. The solution is to deploy the right kind of annuity that provides offensive power and defense capabilities!
The Right kind of annuity can provide flexibility, and give your offensive wealth management team the ability to achieve your overall growth objectives without worrying about your future income plan!
Annuities have protected the retirement of millions of Americans over the centuries. Benjamin Franklin saw the power of annuities by giving them to the cities of Philadelphia and Boston in his will. In 2007, then Federal Reserve Chairman Ben Bernanke disclosed that his largest financial assets are annuities.
Check out the timeline below to learn more about how annuities have been a reliable and trusted option for decades.
1912
Pennsylvania Company for Insurance on Lives begins offering the modern annuity.
1930s
American turn to annuities to protect their assets during the Great Depression.
1950s
Variable annuities become wide spread, allowing owners to gain interest-like earnings.
1980s
Periodic Payment Act and Tax Reform Act are passed by congress.
2000s
The variety of annuities widen to include index annuities, principal guarantee and long-term Care benefits.
Today
With the pension days behind us American’s utilize Annuities to guarantee their income.
In simple terms, an annuity is a contract between an individual (or married couple) and a life insurance company. Depending on the type of annuity, you purchase an annuity with a portion of your retirement savings in either a single payment or with multiple payments over time.