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Tag Archives | annuities

Annuities Do Not Belong In 401(k) Plans

Several weeks ago I wrote about the Setting Every Community Up for Retirement Enhancement (SECURE) Act, which will reform various aspects of US retirement laws. The Act was passed by the House in May and is currently stalled in the Senate. One of the most troubling of the SECURE Act’s 29 provisions is that it […]

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Some Annuity Protection From Insurance Guaranty Associations

My first at bat in Little League baseball didn’t go well. I was hit in the head with an errant pitch. Every at bat thereafter, I would close my eyes and flinch when the ball came whizzing by. Needless to say, my baseball career was short-lived. Today, I have a similar internal flinch whenever I […]

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Uncle Sam Not Stealing Your Social Security

A reader recently forwarded me an email that began, “Who died before they collected Social Security?” It asked how many people only collected a small portion of what they paid into Social Security because they, or a spouse, died soon after retiring. Then it screamed in all caps, “Where Did That Money Go?” The rest […]

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Find Out Hidden Costs of Guaranteed and No-Fee Investments

Annuities are popular investments; almost every new client I see has one. When I ask why someone purchased an annuity, the most common responses are: “We didn’t have to pay any fees or commissions.” “There are no ongoing expenses.” “All my money is working for me.” “The principal is guaranteed.” Any time you read or […]

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State Taxes Add to Cost of Life Insurance, Annuities

We South Dakotans can be smug about the economic advantages of residing in our income tax-free state. While those advantages are big, we do have a few lesser-known taxes. I recently learned about another “hidden” tax, one on annuity premiums. A recent article in Investment News lists the eight states or territories that have such […]

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