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April 2010 Enough Very few retiring baby boomers will collect substantial pensions guaranteed by their employers. In response, insurance companies are now developing fixed and variable annuities with guarantees on the buildup in value and flexibility on when and how much income to provide. Some of these annuities are guaranteed to pay out over a whole lifetime. Be careful – these annuities are complicated and the guarantees are not free. For more information on this topic go to: http://blog.lib.umn.edu/learning/financialplanning. Mark Fischer, Certified Financial Planner Securities offered through Multi-Financial Securities Corporation, member FINRA, SIPC. Fischer on Finance, LLC is not affiliated with Multi-Financial Securities Corporation. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. There is a surrender charge imposed generally during the first 5-7 years that you own your annuity contract. Withdrawals prior to age 59 ½ may result in a 10% IRS tax penalty, in addition to any ordinary income tax. The guarantee of the annuity contracts are backed by the claims paying ability of the issuing insurance company. Variable annuity sub-account values will fluctuate with changes in the market. |
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Financial Planning and Advisory Services provided through Fischer On Finance, a Registered Investment Advisor. Securities offered through Multi-financial Securities Corporation (MFSC) |
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