Timothy Sumer

The biggest challenge to a successful retirement is living too long and running out of money – regardless of how much one has. Fixed Annuities (non-variable), when properly structured, provide two elements that safeguard retirements – lifetime income guarantees and safe growth without the risk of investment loss to principal. One of the greatest determining factors in whether or not a retiree will have enough money through retirement are the unpredictable… Disclosure: Videos are educational and conceptual only and not a solicitation. They are not to be considered investment, insurance, tax or legal advice. It is recommended that you work with licensed professionals for individualized advice before making any important financial decisions. Annuities are not FDIC insured and their guarantees are based on the claims paying ability of the issuing insurance company. State Guarantee Associations, while offering specific protections, are not the same as FDIC insurance. Read more

Let’s dig a little deeper on legacy planning and talk about taxes on the death benefit to the annuity beneficiary, both for a taxable and non-taxable account. Is a retirement annuity the most tax advantageous way to gift to a beneficiary at death? And while I am on the topic of a tax deferred account, such as an IRA, I will also discuss the payout options for a fixed index annuity since the Secure Act has changed how inherited IRAs are to be distributed to non-spousal beneficiaries. Table of Contents: 00:00 - Introduction 01:29 - Refresher on Annuities and Taxes 02:10 - Taxation of Death Benefit for Inherited IRA 02:54 - Is there a more tax advantageous way to gift a death benefit? 04:23 - Introduction on The SECURE Act 04:52 - Impact of the Act on Fixed Annuity in an Inherited IRA 06:04 - Taxation of Death Benefit in Taxable Account ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ ▶️Schedule a 15-minute conversation: ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ 📲CONNECT WITH ME ON SOCIAL MEDIA:

How confused are you when I keep throwing out all of these terms or acronyms for a retirement annuity? See, I just did it again. Well, here it is, a crash course on fixed annuities and a thesaurus for annuity terminology for the annuity types. You can check out this video at any point in time and look at what the retirement annuity term or acronym means. Further down in the description, I will link several videos which will give you more the ‘dictionary’ explanation for the annuity types. Table of Contents: 00:00 - Introduction 01:01 - Retirement Annuity 01:58 - Guaranteed Income Annuity 02:13 - Longevity Annuity 02:30 - Tax Deferred Annuity 02:59 - Immediate Annuities 03:36 - Deferred Annuity 04:32 - Deferred Income Annuity 05:04 - Qualified Longevity Annuity Contract 05:59 - Multi Year Guaranteed Annuity 06:33 - Fixed Index Annuity Watch the video till the end to learn why a fixed index annuity is classified as a fixed annuity! Please Subscribe and