The WorryFree Retirement® Blog

Too Good To Be True?

By November 9, 2018 No Comments

Ever heard the old saying, “that’s too good to be true?”

I hear this from potential clients all the time; particularly when it comes to fixed-indexed annuities.

Since 1984, I’ve sold every financial product you can imagine, and here’s what I’ve discovered: there is no perfect financial product and there is no terrible financial product. There are only the products that are right (and wrong) for you.

And seeing as I’ve sold over 2,500 fixed-indexed annuities as well as placed millions of dollars with other financial products besides annuities, I think I can attest that sometimes, we financial advisors fall into the trap of making things sound too good to be true. And as much as I love fixed-indexed annuities, I must admit, they are not for everyone.

So, what is a fixed-indexed annuity?

First, like all annuities, it’s a contract issued by an insurance company. Its main purpose is protection of your money, while at the same time, being able to increase in value by a certain percentage with the stock market.

What makes these products so appealing to savers is that when the market goes down (like it always does, and is currently) you cannot lose any of your principal or former gains. Also, can add riders onto these products that can provide a nice return for future Mailbox Money® – which simply means, you can enjoy a guaranteed income you can never outlive.

Now, are these products perfect? Of course not, but if you listen to some of the annuity peddlers out there, you’ll, unfortunately, only hear good things.

If you would like to learn more about these products and our retirement planning process, set a free one-on-one appointment with me by clicking to button below.

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I look forward to seeing you soon!