I recently was asked an interesting question by a church friend concerning his elderly mother. Like many of us, he is a ‘boomer’ and has an 85-year-old mother who currently lives in an assisted-care facility. Her expenses are being paid for by Social Security, a military survivors pension, and long-term care (LTC) policy. Her living…
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Annuities and Retirement Stewardship – Part 2
In my last article on annuities, I discussed the different types of annuities and their use inside retirement accounts. As you could probably tell, I’m not a huge fan of variable or indexed annuities, especially when used for retirement saving and investing inside an IRA. My biggest concerns have to do with their complexity and high costs relative…
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Annuities and Retirement Stewardship – Part 1
As a financial coach, I often work with folks who are in the accumulation/growth phase of planning for retirement (i.e., 5 to 10 years or more away). Sometimes I come across someone who has either: 1) received a recommendation from their stock broker or insurance salesperson to purchase a fixed-rate, indexed, or variable annuity product…
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