Should I get a SPIA or FIA Annuity?

The Guaranteed Retirement Guy - John Stevenson

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#annuity #guaranteedincome #spia #fia
Which annuity should you buy? A SPIA is good in some instances and an FIA usually gives more income than any other one.

Опубликовано:

8 июл 2024

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Комментарии : 9

@GuaranteedRetirementGuy 15 дней назад

Like what you hear in the video? Here are some ways I can help: 1. Watch my free training on how to protect & grow your wealth in retirement: info.theannuityassociates.com/start 2. Schedule a call to work with me: go.oncehub.com/RetirementStrategyCall

@Patrick-iq1do 14 дней назад

Everyone is nostalgic about "the good old days" of pensions. But you tell them about SPIAs, and they make a sour face - "Eww, Annuities". :P

@GuaranteedRetirementGuy 14 дней назад

Yes, unfortunately there are a lot of misconceptions about Annuities. there are such a good tool in retirement planning. It literally saved Babe Ruth and Shaquille O’Neal put in millions before his other investments.

@ChristianPotzkai 14 дней назад

hey John, talking about heirship - I have to name them in the SPIA contract for them to get the period certain payout right? Is there any other value aside from that that is able to go to the kids and wife?

@GuaranteedRetirementGuy 14 дней назад

Yes that is correct Christian, you do have to name them the beneficiaries of the income in a SPIA/DIA contract. The other reason you might buy a SPIA is because you WANT to deplete your retirement account fast. I had someone do this because they retired early and they wanted to fill an income need for a period certain 5-years. After that time, all of their other pensions and Social security kicked in. They just wanted to have as much income as possible and run one of their IRAs dry by the end of 5 years while still utilizing an annuity to get a little more out of their money.

@cartracer64 14 дней назад

i had been considering a guaranteed future income annuity "dia" to generate a lifetime income payment with a cash refund for beneficiary. if you don't use all of the premium you put down the cash refund would then go to your beneficiary. i understand you are giving the insurance company your money and won't get it back and your money doesn't grow although if you live till 90 you would have exceeded the premium you paid in and that would be considered an increase.. there is no market risk as its a guaranteed rate. example: single life contract at 60 and payments start at 65 with a rate of 9.23 percent. does this sound correct. thanks

@GuaranteedRetirementGuy 14 дней назад

Yes, that is all true, but you can also get the same benefit from a fixed index annuity with an income rider that gives you usually more guaranteed income for life than a DIA and it will also give your beneficiaries whatever is left in the account if you don’t use it up

@cartracer64 14 дней назад

@@GuaranteedRetirementGuy thanks for replying. fixed index is that the 1 that follows the s and p index. some years it may go up with a guarantee of never losing any of the principal. some years up while others you get zero and there are caps and fees. what percentage rates do those pay.

@GuaranteedRetirementGuy 14 дней назад

@@cartracer64⁠ yes you are correct on all fronts. You know your stuff! Keep in mind that participation rates and cap rates for these indexes change at the end of each crediting period. And that the growth only affects the account balance and therefore death benefit…. NOT the income. You could have many years of no growth and the income will never go down. That is the power of a fixed index annuity with an income rider.