We've been in a bull market for over a decade and at any moment we will be moving into a bear market. But, is your financial future protected? If the market were to take a crash, how much of your savings would you lose?
There’s a product that’s been gaining popularity and when the market starts to correct itself, this is the product everyone will be trying to get.
If you want to protect your assets, look into an indexed annuity. I broke down the indexed annuity into a simple acronym: G.A.I.L.S.A.
It’s the indexed annuity. Let’s break down why:
Guarantee
If you want peace of mind that your money won't drop when the market does, you'll want a portion of your money in a guaranteed product. Your principal and gains are guaranteed in an indexed annuity.
Annual Reset
If you put you money in a 1 year index, you can move it to a different index the following year. Some indexes are 2 years.
Indexing
Your money is mirroring the market, but it's not inside it. You can invest your money in different indexes including a fixed index account or one that mirrors the S&P 500. Different annuities offer different indexes.
Lifetime Income
You have two different types of annuities. You have an accumulation indexed annuity and a lifetime income indexed annuity. When you're ready to collect income, you can open an indexed annuity that's designed to pay you for the rest of your life.
Surrender Period
Annuities can be bought for short terms as short as 2-5 years to 7-10 years or longer. Let's say you buy a 7 year indexed annuity. Your surrender charges will decrease as the annuity ages.
Access
You have 10% access annually while some annuities are cumulative, meaning that if you don't draw out your 10% year 1, you can access 20% year two.
You have different options with annuities that can give you a bonus on income or a bonus on your account value. That means you put in 100k and you have 110k in your account value. Income is 100k start and later they give you that 40k on your income. The catch is that you have to wait 10 years to access it, but it’s good for someone who has 10 years to retirement. When you’re ready to retire you have that 40% bonus.
Watch this video to learn more and if you'd like a free quote visit this link to learn more about indexed annuities.
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