Since the program started five years ago, 188 people have graduated as Accredited Financial Counselors.  Military spouses help in volunteer and paid positions with everything from finding the best fixed annuity rates to developing plans for retirement.  Participants are required to finish the course and work for at least two years in the financial counseling field.  This Spouse Fellowship Program is available for current and surviving spouses of both active duty and retired service members.  They can be Army, Navy, Marine Corps, Air Force, Coast Guard, National Guard, and even spouses of U.S. Public Health Service Commissioned Corps or National Oceanic and Atmospheric Administration officials.

They voiced concern over negatively impacting the best annuities that are so important as a retirement vehicle.  Since there are 78 million Americans working without any type of employer-sponsored retirement plan, annuities are a way for them to guarantee a secure retirement.  There will be other things taxed as well, including the health benefits of some employer sponsored health care plans.  The Congressional Budget Office gave a positive report on the health care reform stating that although the cost is high, the Act would actually decrease the deficit by $138 billion over time through increased revenue and cost cutting in other areas.  Sunday’s vote could change the course of history in America.

While annuities have a lot of options to research, using some of a 401k to purchase one for guaranteed lifetime income is right for many people.  Retirees are handed their 401k in a lump sum at retirement to live off for the rest of their lives.  They can use some of the money to purchase immediate annuities at retirement, but aren’t always educated about the product.  President Obama’s council has two ideas for matching 401k’s and annuities.  At age 45, 401k plans can start putting retiree’s money into an annuity or they can purchase an annuity at retirement with half of their 401k savings.  The stability of the insurance company from which annuities are purchased is crucial, so there is a call for a federal insurance fund similar to the FDIC to back up these annuities in case the insurance company goes out of business.  The government is still doing research to determine what their recommendations will be.

There are things to consider when looking into an equity linked CD.  They do not have liquidity before the term expires so they should not be used if you might need your money sooner than the five years or so.  Market risk and call risk are associated with equity linked CDs.  FDIC insurance covers the amount permitted by law, but always read all of the terms associated with the FDIC.  Many returns are calculated by averaging the index’s closing price over a period of time instead of upon the maturity of your CD.  Look into the equity linked CD criteria to find out the participation rate and whether or not there are caps associated with your product.  Since equity linked CDs can have different tax benefits than regular CDs, make sure you know those before purchasing.

• Work as long as you possibly can.  This gives you more time to save, allows the savings you already have or are now saving to grow, and lowers the number of years that you will need to use those savings to live.  Delaying Social Security payments is also wise because you will receive more each year.
• Lower your costs of living in retirement.  One of the best ways to do this is to live where the cost of living is low in the United States.  Moving somewhere in the central U.S. tends to have the lowest housing and living expenses.  Even moving a little farther outside of a big city makes a difference.
• Make a plan for yourself that isn’t concerned with leaving money to your heirs.  Immediate annuities and reverse mortgages help you to get more out of the same retirement money.  There are sacrifices to be made for both, so make sure the options are right for you.
• It can’t be said enough: spend less and save more.  While it seems like a simple idea, many people just are not following the concept.  Starting now, wherever you are in the retirement spectrum, will always make a difference and help your future money grow.

Use tax breaks for people over fifty to your benefit and save for 401k annuities and IRAs.  You are able to put more money into these accounts than those younger than fifty.  Take advantage of what the government has to offer.  Work longer, lower living costs, think about your own future, and save.

Ratings from all four financial strength rating companies have remained strong over the past seven years.  A.M. Best rates Jackson an A+(superior), Standard & Poor’s and Fitch Ratings both rate them an AA(very strong), and Moody’s Investor Services Inc. gives Jackson an A1(good) rating.  These strong ratings are earned in part by Jackson’s top annuity sales rankings in 2009.  They had 5.9% of the market share in total annuity sales which put them in 4th place.  They were also 4th in new sales of variable annuities, giving them a market share of 8.1%.  A market share of 7.5% in sales of fixed index annuities gave Jackson their third 4th place ranking.  While they dropped in ranking for fixed annuity sales from 2008, it was a planned move to preserve the company’s capital.

The 5th change that Marrion believes will happen when you compare annuities today and in ten years is that they will be seen much more in pensions as the planners get comfortable with the products.  Next, the way that guaranteed benefits are offered now will be overhauled with new options that are better for investors.  The 7th change is that Wall Street could be a large part of the annuity industry by getting involved through the teaming of investment firms and life insurers.  The final change will likely be a skyrocketing of fixed annuities sales in the next ten years.  As the products and their benefits evolve, Marrion believes that future retirees will be very open to fixed annuities.

LIMRA believes that the high number of investors opting for the security of the GLB is directly related to the shaky economy.  Even though insurance companies are trying to decrease the attractiveness of these low-risk riders, 80% of variable annuity contracts last year elected a GLB.  From the beginning of 2009 to the end, sales of variable annuities with GLBs attached increased by 41%, while total variable annuity assets increased by 21%.  New investors’ high rate of election of the GLB rider accounts for the larger increase of products with GLBs.  Many older annuities do not have the rider and are past the point of having a surrender charge so may leave the market.

Community groups have the ability to reach large numbers of people and relay information that can help them without bias.  During this tough economic time, these grants were given in areas hardest hit financially to help people become stable and look forward to their future.  Free educational programs will help working families and individuals on the road to financial stability.  They may learn about the best annuity rates to protect their retirement or simply how to balance their checkbook.  Community needs are across the financial spectrum.  These twelve grants were given to seven United Way branches located in Texas, Nebraska, Wisconsin, Pennsylvania, Connecticut, and New York.  The community groups receiving the other five grants are in Georgia, Arizona, South Dakota, and Tennessee.  FINRA believes that their help in financially educating the communities will make Americans self-sufficient and in charge of their futures.

Wells Fargo’s WISE US Index Equity Linked CD is Annuity FYI’s top pick for investors.  With a 6 year time frame, FDIC insurance, and market upside participation, Wells Fargo’s product is one of the best available.  There are other benefits to this particular product as well, including a high participation rate.  Annuity FYI likes equity linked CDs over fixed-indexed annuities because the latter tend to have high fees that are not in proportion to the benefits investors receive.  Some of the best benefits to equity linked CDs are their low cost, principal protection, and benefiting from market upswings.