Retirement Plan

Should I invest in a variable annuity?

Thanks for reaching-out.

It is generally very difficult if not impossible to provide a simple yes/no answer to this type of question without having much more detail regarding your situation and needs.  That said, here are some things to think about:


TIAA-CREF CEO Urges Focus on Retirement Income Rather than Wealth Accumulation

TIAA-CREF CEO Roger W. Ferguson recently wrote a piece encouraging policymakers and consumers to think about reframing retirement planning . Ferguson urges readers to focus on the primary objective of a stable stream of retirement income that lasts throughout retirement rather than wealth accumulation.

Majority of Wealthy Americans Concerned about Longevity Risk

A recent survey conducted by Bank of America indicates that the majority of wealthy Americans are concerned about outliving their savings in retirement. The BofA survey results reveal that 53 percent of respondents are concerned about making their savings last through retirement, and 59 percent cite healthcare costs as a major concern. A surprising 67 percent of BofA survey respondents said that they did not work with a financial advisor for retirement planning . The survey focuses on...

Annuitization Continues to be a Focus of Obama Administration

The Obama Administration continues to make annuities and other potential sources a guaranteed income a policy priority. As described in a recent Bloomberg article, much of the concern seems to be related to the retirement plan damage caused by the financial crisis. While recently recovered, average 401k balances took a major hit in 2008 and early 2009. Bloomberg reports that the U.S. Treasury and Labor Departments will ask for public comment as soon as next week on ways to promote the...

BofA Merrill Seeking More Retirement Plan Business

BofA Merrill is focused on recruiting more of its existing corporate customers to its retirement planning business. Reuters reports that the brokerage firm has recently formed three new teams of advisors what will focus on serving the retirement plans of Bank of America's current corporate and investment banking clients. The cross-referrals from the brokerage division to Bank of America have been strong thus far within the newly merged company, with the wealth management division referring 3,...