retirement

Variable Annuities for Retirement Savers Go Back to Basics

Even with today's simplified variable annuities, you need a good grasp of the pros and cons before putting part of your nest egg into one.

After years of making variable annuities more complex and expensive, some insurers are offering products that have fewer bells and whistles, are easier to understand and have lower fees.

If you have a higher-cost variable annuity, you might consider rolling the assets to a lower-fee annuity through a tax-free “1035 exchange.” But first check if you would be subject to a surrender charge, which can cost up to 7% to 10% of your balance if you leave the annuity in the first 7 to 10 years. The income rider won’t transfer if you cash out or switch annuities, so be wary of giving up guaranteed income based on a benefit-base balance that is higher than your investment value.

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Election 2020: Joe Biden's Tax Plans
taxes

Election 2020: Joe Biden's Tax Plans

With the economy in trouble, tax policy takes on added importance in the 2020 presidential election. So, let's take a look at what Joe Biden has said …
October 15, 2020
Election 2020: States With Tax Questions on the Ballot
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Election 2020: States With Tax Questions on the Ballot

On November 3, voters in 17 states will weigh in on a variety of proposed changes impacting taxes on everything from property to pot.
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Will Joe Biden Raise YOUR Taxes?
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Will Joe Biden Raise YOUR Taxes?

There's little doubt that, if elected, Joe Biden will try to raise taxes for some people. Will you be one of them?
October 16, 2020

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