Contractual Income - A Few Thoughts

Unedited Transcript

A short chat about annuities, Navigating the World of Income

Stepping into the world of annuities can be overwhelming, like navigating a complex maze. Most people do not have the mathematical, actuarial, or financial concepts, language, and fortitude to figure it out. Making the wrong choice could lead to being locked into a product that does not align with your unique needs and goals. At Truesdell Wealth, Insurance, and Consulting, which are three of the companies that comprise the conglomerate of professional service firms, we are extremely good at simplifying the process of contractual income. When exploring annuities, the key questions to ask yourself are: What do you want the money to do contractually for you, and when do you need those contractual guarantees to start? From there, it's a matter of going through a methodical process to see what contractual provisions meets your requirements.

Far too many annuity agents are poorly trained and experienced, and it’s not unusual to see some force a square peg into a round hole. It's crucial to understand how these products work and whether they genuinely suit your needs. Annuities are complex, but don’t let the complexity overwhelm you. Look, Many individuals attempt to overanalyze annuities and predict the return on investment. Don’t do that. When it comes to meeting your lifetime needs, securing the necessary income is more critical than focusing the rate of return. Pause. Push the stop button. Investing for growth is not the same as turning on the spirket of income. Like comparing Apples to Oranges, don’t do that . With lifetime income annuities, there is no rate of return equivalency calculation that is relevant.

At Truesdell Wealth, our clients are mature, conservative, and worldly. They delegate rather than abdicate, and they know that the, always the do it yourselfer, is robbing themselves of the remaining time above ground doing things that often do not make sense. You see annuities are a common sense means of taking your cards off the table and providing longevity risk protection, let me repeat that, longevity risk protection, to meet your needs for as long as you live. As an investment advisor first and foremost, my team and I know when to shift gears, to slow down and emphasize the importance of using contracts for safe, and dependable contractually guaranteed income.

When it comes to income-focused annuities, it's essential to understand the various options available. Single Premium Immediate Annuities (SPIAs) provide a guaranteed income stream starting immediately, while Deferred Income Annuities (DIAs) allow you to defer the income start date to a later point in time. Both SPIAs and DIAs can be structured to provide lifetime income, ensuring you never outlive your money. And not for elaboration now, but properly structured, annuities have distinct long term care advantages.

Regardless of the type of annuity you choose, it's crucial to work with a trusted, experienced, and fiduciary-based advisor who has your best interests in mind. At Truesdell Wealth, Consulting, and Insurance, we pride ourselves on providing blunt, unbiased advice, and, we are always happy to offer a second opinion and compare any annuity to ensure you make an informed decision.

For a private consultation to discuss how safety in large numbers through contractual income can help secure your financial future, text us at 212-433-2525.