Gaobo Pang and Mark Warshawsky's study supports a strategy of combining income annuities with mutual funds in retirement.
Here's an income plan for a hypothetical 65-year-old couple with $1.6 million in savings, a real income goal of $8,000/mo. in retirement, and a legacy goal of $1.5 million.
CUNA Mutual Group invades Allianz Life airspace by launching 'Zone Income Annuity.' It's the only structured index annuity besides Allianz Life's Index Advantage Income to offer a lifetime income option. The two contracts differ in small but significant ways.
The president of Prudential Annuities since 2017, actuary Kent Sluyter spoke with RIJ recently about financial wellness and about his firm's pivot to a new generation of individual annuities.
“The fact that there haven't been more television pieces taking a look at retirement is remarkable,” said documentary filmmaker Brian Boyer.
The payout from Phoenix's Retirement Income Options variable income annuity is life-contingent and variable during the "early retirement" stage, but pays a fixed income with a death benefit during the optional "later retirement" stage.
“People don't know what to do with their money in general,” one advisor told Pensions and Investments. “It may get worse the older you get, but really this is a problem for all workers.”
Nearly four-in-ten adults who have worked past the median retirement age of 62 told Pew Research that they delayed their retirement “because of current economic conditions.”
The president told Americans, “If you work hard your whole life, you ought to have every opportunity to retire with dignity and financial security."
I finally found time to read "Boomsday," Christopher Buckley's novel about a presidential candidate who asks Baby Boomers to save Social Security by agreeing to commit suicide at age 70.
Since the end of 2008, Sun Life, American Equity Investment Life and MassMutual have joined the list of the top 20 annuity sellers, while Genworth Financial, Principal Financial, and Allstate have slipped off.
Almost 90% of purchasers of new variable annuity contracts are electing living benefits and almost 60% are electing guaranteed lifetime income riders, despite industry-wide pull-backs in those benefits.