Three or four unfinished drafts are sitting in the newsletter folder and most of the time I can’t decide what I plan to send out for the week. Recent stories and misguided objections gave birth to this weekly exercise just about a year ago. Since then hundreds regularly read this email and many of those have identified with a problem others are having. Some are prospecting for ideas well ahead of retirement and others are clients who have worked with me for years.
Over the next few weeks I’ve got a steady string of clients who have finally taken me up on an offer to come visit Montana. I say the same thing to a lot of people. When you have the free time and extra money, why not come see Glacier Park for a nice summer trip. The offer is on the table and Carl from Florida is the first to arrive. Last night we grilled elk burgers and he told me he really likes reading the weekly updates.
Without a solid plan for this week I came up with an idea on the spot to do something that has been in the works for a long time. Because dozens of new people come in every week I’ve wanted to somehow recap everything to get all people on the same page. If this is the first newsletter you’ve read you may not have the context of all the others. So below is a link to each of the best weekly posts I’ve sent, judged by total views and viewer comments, either on the site or by email response.
This will more or less outline my whole philosophy in regards to using annuities in retirement. It works for some but not others and some people like it while others don’t. The entire point of what I’m doing is to first make sure you don’t make any mistakes. Annuities only have a bad name because people often use them the wrong way.
Check out the ones you like and skip the ones you don’t. I’m going to start with the simple stuff and build up to some of the more complex ideas I’ve shared. Here we go…
Most people are made aware if index annuities from a sales pitch of a popular and perhaps complicated contract. To build a house you can’t start with the shingles. You need a solid foundation first and this one helped a lot of people clear the air and come back to basics.
Why do so many agents sell the same contract? There’s a reason you see more products than others. This one partially lifts the veil on the sales side of this business so you can understand exactly the most popular contracts are sold so frequently, and in my opinion sold in error all too often. You need to know who has a stake in your deal so you know for sure whether they have your best interests in mind.
Earlier this year I got a requests from one reader who asked if I’d write something that addressed his situation. Like many of you, he wanted to make plans early but because of TSP transfer rules he is too young to move his assets. So he has to work a few more years and wait to put retirement plans in place. It’s not too uncommon for people to be barred from moving money when under 59 ½ so this one gives a little advice on what to do in addition to just being patient.
Earlier this year I went to visit my Dad for about a week. Sports has always been a big part of my life and we spent a lot of time watching my nephews play basketball. It was some good father/son time and brought back a lot of memories of how my parents supported me when I was playing. One of the reasons for the visit is that he needed some retirement advice. Here is where I explained to you all that my goal is not to sell every single person an annuity.
A cornerstone of most retirement plans, advice on how to maximize what you get from the system is one way many advisors attract clients. But there’s no real secret, it just takes some number crunching to figure it out. As with most things I disagree with the establishment on this one and I’m right. Here’s a look at how to really settle the question once and for all.
Tax-free income is a dream for just about anyone. But if your goal is maybe to pay the least amount of taxes over time then a Roth conversion may not be the answer for you. In this one I offer some explanation as to why this strategy only works in some very specific situations.
Most advisors are pitching guaranteed lifetime income because that’s what the industry wants us all to sell. But in reality that approach is not appropriate for most people. In certain situations a guaranteed income contract works the best but for most people the flexible approach offers more benefit. It’s not something you see at the standard dinner seminar and started right here at AST.
There are a lot of reasons why people fail to act on a good plan that meets all their objectives. You may identify with one or more of the reasons on this list. Is it information overload or disagreement with a spouse? This one lists all the reasons why some people have a hard time making the leap.
Here is where I explain exactly why index annuities give you a substantial advantage over all other safe assets available. Bonds, CDs and other cash instruments don’t give you the full benefit needed if market volatility is a concern in retirement. If you want to know exactly how to protect assets, produce income and increase wealth in retirement then this is essential reading.
This was my big idea several years ago. The evolution of this strategy shows exactly how to get the most out of an annuity and even your total portfolio as a result. There are several benefits that prove exactly why this is the most efficient approach to managing assets in retirement.
After about a year this has become a great way to communicate with all of those who have signed up on this website. Feedback has been great and it surely helps to have current information rather than stock, standard retirement advice. Things change and it takes new ideas to keep you in front and in position to make the most out of your retirement plans.
As always if you have any specific requests or ideas for one of the next newsletter just send me an email or comment below.
Have a great weekend…