Smart Annuities
Safety and protection is the primary objective of using annuities. Each type of annuity was created to protect your assets from at least one major risk in retirement. Variable annuities let you invest in the market but protect you from taxes with non-qualified assets. Fixed and fixed index annuities protect you from violent changes in the stock market. And income annuities protect against the potential of running out of money late in life. There lies the importance of using Smart Annuities.
At 42 years old I personally own some of each type, except variable annuities. Yes, I am kind of young to be doing that but I understand the market and am comfortable with the opportunity to simply protect assets and grow consistently. A healthy retirement has always been more about saving money than achieving yield. Once I figured that out I chose the gradual path to my own retirement.
I take pride in my recommendations because I will follow the same path for myself. In every case, I have sought out verification of what I believed to be the best opportunity. Recently my suspicions were confirmed and my objective is to ensure that people use annuities only to meet a certain objective.
Knowing that objectives are the key to finding solutions, I was delighted to hear that several weeks ago, Mass Mutual has chosen to buy Great American Life. For anyone who doesn’t understand, in this case, it’s a big company buying a smaller company, thus acquiring all assets and liabilities of the smaller company. So you can’t tell me that Mass Mutual is aware of Great American’s value and you shouldn’t be.
Great American was the value I defined years ago when I first started believing in and selling index annuities. If you want to know why that is you can call me. There are dozens on this list who believed me and bought it but many more who trusted someone else or thought they could find a better deal elsewhere.
Almost all annuities are good but some are not. Great American has been my primary choice for the past 10 years. Some listened to my reasons and some didn’t. Several of those who didn’t have come back to say they made a mistake. If safety is the primary concern, then shouldn’t that be at the forefront of the decision as to where you put your retirement money?
Colorado Bankers Life was a small company that offered the highest fixed annuity rate in 2018. The company is based in North Carolina but had Colorado as its name. That’s like me from Montana calling a company “Bull Elk Insurance Co” and being based in Hawaii. It’s all bullshit and I have always urged people to do as much research as possible.
Sure, Colorado Bankers had a good offer but it turned out to be total BS! The company was unrated by any of the ratings institutions so that should have been a red flag for anyone looking at safe money options. Needless to say, tens of millions of dollars went into the fixed-rate annuity contract from Colorado Bankers Life. I can’t say that I called it, just that I never personally trusted it.
So, anyone who didn’t believe me now has an annuity stuck in the purgatory of a state insurance guarantee fund, but I’m glad I don’t have that on my conscience. My recommendation was validated by one of the most stable financial institutions in the world. I’m not joking around when I tell you how to deal with this market. I am trying to do the best for every retiree in America with smart annuities. Take it for what it’s worth and do what you think is best. If I disagree then it’s because I have your best interests in mind.
Bryan
800.438.5121
Further readings
Fixed Indexed Annuity Withdrawals
How Much Do Fixed Annuities Pay?
Last Updated on January 10, 2024 by Bryan Anderson
