Gaobo Pang and Mark Warshawsky's study supports a strategy of combining income annuities with mutual funds in retirement.
Solash, who leads AIG's Individual Retirement business, spoke with us about the company's approach to the annuity market. The NAIC recently reported AIG's overall Life and Retirement businesses as having an industry-leading $18.4 billion in sales.
In retirement, "risk" can turn from an object of pursuit to an object of avoidance. In the second installment of a two-part article, our guest columnist continues his discussion of financial and other risks that retirees and advisors should anticipate.
In the first of a two-article series, the retirement expert, author and editor enumerates and describes the many risks that retirees face. (Spoiler alert: Mortality is not one of them.)
“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.