Immediate Annuities: Best Kept Secret

On The Huffington Post, Dan Solin writes that immediate annuities are a less publicized yet suitable investment for retirees or those about to retire. He cites evidence that people who invest in an immediate annuity as part of their retirement portfolio are less likely to outlive their savings, a big concern for baby boomers. Several companies offer immediate annuities, including: Vanguard Fidelity Charles Schwab TIAA-CREF While these products can be appropriate for many... Read More

WSJ Suggests Fixed Immediate Annuities for Retirees

In a Wall Street Journal article, Shelly Banjo and Kristen McNamara highlighted the advantages of fixed immediate annuities. Like standard fixed annuities, they are generally safe investments for retirees. Unlike them, these products begin making payments soon after you deposit a lump sum and provide an income stream with little delay. The top immediate annuity rates in the market are around 4.75% to 5.40%, which seems to be a decent return when compared to a 10-year Treasury note or 5-year... Read More

Sales of Immediate Annuities Soar for New York Life

Matt Ackerman of Bank Investment Consultant recently reported that sales of immediate annuities have risen over the past several years. For example, New York Life's immediate annuity sales increased by 34% in 2008. As of December 31st, immediate annuities make up $1.2 billion in the firm's assets. While immediate annuities have been around for decades, New York Life only resumed its marketing of them a few years ago. These products, which turn an investor's lump sum into an steady income... Read More

First Immediate Annuity from Securian

According to The Retirement Reporter, Securian Financial Group has begun to offer its inagural single premium immediate annuity (SPIA). The product is called IncomeToday! After paying an initial $25,000 premium, IncomeToday! provides continuous fixed payments, either for life or a defined period of time. This SPIA is available from Securian's Minnesota Life subsidiary for individuals 90 years old or under. Immediate annuities are pension-like plans that provide greater security than other... Read More

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