Annuity Research Advice And Tips

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Before diving into the intricacies of annuities, it’s essential to understand some fundamental rules and guidelines. Many consumers often find themselves confused about how annuities function. With 14 years of experience in training financial advisors and selling annuities, I’ve crafted this guide to address common misconceptions and provide clarity.

If this is your first time here, my background has been training financial advisors and selling annuities since 2009.

Annuity Rules For Research

Annuities may not be a fit for you, and that’s ok.

  • Knowledge is Power: It’s crucial to approach annuities with a fresh perspective. Forget prior knowledge, as it might be outdated or only a fragment of the whole picture.
  • Beware of Misinformation: Many personal finance influencers and media outlets might not provide accurate information about annuities. Their primary goal might be advertising, lead generation, or bait-and-switch promoting other products. Think online ads, blogs, and TV and radio talk show personalities.
    • Insider Tip: Most content online is created by content writers with little to no experience with annuities. This includes mainstream websites.
  • Variety of Annuities: There are several distinct types of annuities, each designed for a specific purpose. All annuities are NOT the same.
  • Control Over Your Money: Not all annuities require you to relinquish control over your funds. Several types offer varying degrees of control, flexibility, liquidity, and benefits. Most deferred products allow you to take your money plus interest in a lump sum after the contract term is completed.
  • Income Generation: There are three primary methods to derive income from an annuity: Annuitization, Lifetime Withdrawals, and Penalty-Free Withdrawals.
  • Market Volatility: Most annuities are insulated from stock market fluctuations, with variable annuities being exceptions.
  • Fees and Commissions: While we don’t charge fees (which come from your pocket), we earn a predetermined commission from the insurance company (not you) when you purchase an annuity from us. It’s essential to differentiate between the two and understand that a commission doesn’t affect your annuity in either a good or bad way. However, advisor fees can affect your annuity negatively, especially in poor-performing scenarios.
Annuity Advice

Tips for Researching Annuities:

  • Prioritize finding the ideal annuity tailored for your retirement needs, and not a “bell and whistle.”
  • Always ask questions and never hesitate to seek clarity.
  • Avoid high-pressure sales tactics and trust your instincts.
  • Only use official materials from the insurance company when researching products.
  • Stay wary of too-good-to-be-true offers and flashy gimmicks.
Annuity Tips And Recommendations

Do’s And Don’ts Of Annuities Conclusion

Navigating the world of annuities can be daunting, especially with the myriad of options and often conflicting information available. However, with the proper guidance and a clear understanding of the fundamental rules and guidelines, one can make informed decisions tailored to their retirement needs. It’s essential to approach annuities with an open mind, armed with accurate knowledge, and always to prioritize one’s financial well-being. By doing so, individuals can secure a stable financial future and enjoy the peace of mind of sound retirement planning.

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Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Shawn Plummer is a Chartered Retirement Planning Counselor, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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