Dec 20, 2022
In this episode, The Annuity Man and Steve Parrish
- Why we need simple retirement
- Transitioning from accumulation to
- How inflation affects insurance
- The benefits of delaying your social
- There’s a huge need to decrease the complexity
surrounding retirement. Retirees or pre-retirees today are already
worrying about the economy, laws and proposed laws, misleading
advertisements, and the fact that they’re not as sharp as they used
- Accumulation is all about maximizing your
returns for a minimum amount of risk. When you’ve crossed the line
of retirement, the risk becomes you run out of money before you run
out of oxygen. You would want to have money to live off of in your
second chapter; that should be your focus.
- Insurance companies are good investors in
bonds. As interest rates go up, the rate gets higher on bonds,
which gives the insurance companies more to work with. Inflation is
helping insurance companies.
- Delaying your claim of your social security
until 70 has some benefits. You can fill in the difference with
annuities and other strategies. Social security is a great gift,
but take it in the future. That will help greatly with flexibility
in what you can do with annuities.
"The fact is that more of us worry or know about
situations of people living too long rather than dying too soon. I
see annuities simply as longevity insurance."
— Steve Parrish
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