New York Life and Fidelity have introduced a variable annuity with principal-protection over 10 years. Similar protection could be obtained with an indexed annuity or with a combination of a fixed rate annuity and an S&P500 index fund.
'The biggest mistake investors could make in today’s environment is to seek a safe haven in balanced portfolios of stocks and bonds,' writes the chief economist at GAM Holding.
The enhanced Power Series also offers the Russell 2000, a U.S. small-cap stock index, and the MSCI EAFE, an international stock index, in addition to the existing S&P 500, PIMCO Global Optima and ML Strategic Balanced index options.
Retirement bills close to passage in the House and Senate remove barriers to commerce in the 401(k) business but could also weaken safeguards that have been in place for many years.
Many people file early because they aren’t working, lack savings, and need the monthly income Social Security provides; yet the same people would benefit most from claiming later.