Many people buy annuities according to their agent's recommendations. However, many people do not even know what they own. It is a good idea to take inventory of your investments, and particularly your annuity. It is important to understand what your annuity can and cannot do and what features it has. Here are some of the things you definitely must be sure to know about your annuity:
1. What interest rates are you currently getting?
2. Are the interest rates getting worse?
3. What is the rating of your insurance company? (Critical)
4. What are your surrender charges?
5. Is your principal ever at risk?
6. What retirement & income options does your annuity have? 7. Is your annuity Medicaid Friendly?
8. Did you properly designate your beneficiary annuitant and even ownership of your annuity?
9. How safe is your annuity?
10. Is your annuity subject to double taxation?
12. What is your minimum guarantee?
13. Are you eligible for a 1035 exchange?
14. What happens in the event of your death? Are your beneficiaries entitled to all of the money or are there penalties?
This is a good beginning inventory list. These questions are important in assuring you are doing what is right for you. As we said before, the best annuity is the one that is best for YOU. And by taking inventory of what you own, you can now assess it against your own goals and make sure there is a match.
By the way, this is a good process to go through periodically. As you know, your needs change over time. And as they change, you must make sure your investments are always in line with your goals. If they are, great. If they aren't, well, change your goals---or change your investments! But make sure there is a match.
Hopefully this helps. And remember, it's not what you know; it's what you do with what you know. If this makes sense, then pull your annuities out and take inventory. There is no better time than the present.
Tony Bahu is the author of the controversial document, 'Annuities: The Shocking Truths Revealed', which reveals the secrets that the banks and insurance companies don't want you to know.
For more information on his document, visit the site below right now!
There is an area in Brazil that has lower crime... Read More
Every year I go to the Money Show in Orlando,... Read More
Do you ever wonder exactly what's going on in the... Read More
You've probably heard about people who keep their money offshore.... Read More
Going public in this manner is ideal for companies that... Read More
Let's first understand what maniac means. According to Webster a... Read More
The Moving Average Convergence Divergence charts, or MACD charts for... Read More
Non-indexed mutual funds try to keep it secret that actively... Read More
"Risk comes from not knowing what you're doing!" Warren Buffett... Read More
The man sat in a chair beside a dressing room... Read More
An Ira is one of the greatest ways to save... Read More
Grading coinsThe condition of a coin is commonly summarized by... Read More
Do you rule your superannuation or does it rule you?It's... Read More
One of the leading traders on Chicago Mercantile Exchange, because... Read More
Step 1: Spend less than you earnPerhaps the simplest financial... Read More
Have you often wished you could have got in on... Read More
I'm sitting here at my computer desk with a cup... Read More
Purpose: Expose Opportunities for Smart InvestorsThe move by China's central... Read More
With so many financial advisors trying to woo you with... Read More
Asset allocation is a critical component of investing success. Both... Read More
It use to be said that once a company was... Read More
You hear it over and over and over in books,... Read More
Gearing is where you borrow money to invest. As already... Read More
One of the fundamental principles of finance is the concept... Read More
With visions of an ATM in every neighborhood in China,... Read More
What is the value of a good habit? Think of... Read More
Seniors on fixed incomes face a unique problem. Where do... Read More
Some time ago I attended a seminar where participants were... Read More
Agonizing displays of poor theatrics failed to entertain my mind... Read More
If you want to make the most of your personal... Read More
A trading system consists of a set of rules for... Read More
Investments can be a source of great potential earnings. The... Read More
All this talk about Investing is encouraging lately. Over the... Read More
Do you think you need an Investment Advisor? Hold on... Read More
Suggesting the use of a franchise business as a vehicle... Read More
One among many ways you lose money in non-indexed mutual... Read More
The practice of economy, directed toward a retirement investment plan... Read More
Here is a small summary of the three major approaches... Read More
Do you have the right temperament?Starting a small business is... Read More
This column has previously discussed "picturing the future that we... Read More
The world of trading can get very complex because the... Read More
Despite what some people may lead you to believe; day... Read More
Whether you're a novice investor or an experienced stock picker... Read More
There maybe several reasons why you to want to invest... Read More
Stock trading strategies are as rampant today, as they were... Read More
Larry, Moe and Curley were sitting in their favorite restaurant... Read More
In 1519, Hernando Cortes, beached on the shores of unexplored... Read More
You'll want to opt for the no-load or institutional share... Read More
Q: I own a small decorating business and I'll be... Read More
It use to be said that once a company was... Read More
Let's first understand what maniac means. According to Webster a... Read More
"Through wisdom is a house built. And by understanding it... Read More
Over the course of the past two months, readers have... Read More
I submit that the successful day trader would profit well... Read More
While there is not a lack of information on annuities,... Read More
More and more workers are leaving their jobs and taking... Read More
If you are interested in stock investing and the stock... Read More
CATCHING A FALLING KNIFEOne of the most common mistakes made... Read More
Once upon a time, offshore investment strategies were spoken of... Read More
Investments are scary for some people, especially those who have... Read More
For investors only... and for speculators who need to invest... Read More
They're real, but few survive. High risk investing is dangerous... Read More
There is a cat fight brewing between Direcway LLC, Starband... Read More
This article attempts to help give the investor a broader... Read More
"You can be poor when you're young, but you can't... Read More
Some time ago I attended a seminar where participants were... Read More
Investing |