Should You Buy a Joint-Life SPIA or is There a Better Way to Protect Your Spouse?
You’ve got savings, and you want the most guaranteed income you can turn it into. You also want to make sure your spouse doesn’t lose that income if you die first. Most people assume protecting your spouse just means accepting a lower monthly check — a straightforward trade, nothing more to think about. It’s not […]
Using an Annuity to Avoid the 10% IRA Early Withdrawal Penalty (72(t) Explained)
Every IRA and 401(k) has an invisible fence around it until you turn 59½. Climb over early, and the IRS charges you a 10% toll on top of the regular tax you already owe. Most people just wait it out — five years, ten years, however long it takes — because that’s what everyone assumes […]
Find Out How Much You Need to Invest in a SPIA for “$X” Dollars of Income Per Month
“How much do I need to invest to get $2,000 a month? $5,000? $10,000?” Whatever the number in your head is, it’s one of the most common questions asked about guaranteed income — and it’s a genuinely hard one to answer honestly. Not because the math is complicated, but because your real answer depends on […]
Medically Underwritten SPIAs: Health Conditions, Higher Income
When Bad News Becomes a Bigger Check If you’ve been told you have a serious health condition, you’ve probably heard some version of “this is going to cost you.” A costlier insurance premium. A denied application. A door that just closed. There’s one place where that isn’t true — a lifetime income contract called a […]
Better Permanent Life Insurance Rates With Health Issues
You applied for permanent life insurance, and the offer came back rated. Maybe your agent used a letter — Table D. Maybe a number — Table 4. Either way, the message was the same: because of your health, you’re going to pay more than someone in perfect shape. Most people accept that as the final […]
SPIA vs. DIA: Which Timing Fits Your Retirement?
If you’re comparing a Single Premium Immediate Annuity (SPIA) and a Deferred Income Annuity (DIA), you’re probably asking two things: which one pays more, and which one is safer. Here’s the short version — they’re not really competing products. A DIA is built exactly like a SPIA. The only thing that changes is when the […]
SPIA vs. CD: Two Different Jobs, Not Two Rates
You already ran the math. A Single Premium Immediate Annuity is paying more per month than the CD rate the bank quoted you a few days ago, but you’re wondering why anyone would trade a lump sum they can still touch for one that pays a little more and locks the door behind it. Here’s […]
Social Security vs. Annuity: What the Numbers Really Show
There’s a certain quiet that shows up in your early sixties. Not the quiet of having nothing to do. The opposite. It’s the quiet of finally being able to see what’s coming. The mortgage that’s almost paid off. The kids who don’t need you the way they used to. A calendar with room in it […]
What a SPIA Actually Gives Up: Liquidity, Inflation & Upside
Somebody is going to try to sell you on SPIAs someday, either by telling you it’s the safest decision you’ll ever make, or by telling you it’s a trap that gives away your money forever. Neither one is being straight with you. Here’s what’s actually true: a single premium immediate annuity really does take three […]
Joint and Survivor SPIAs: Guaranteed Income for Two Lives
A joint and survivor SPIA promises something that sounds simple: guaranteed income that keeps paying no matter which of you dies first. For a married couple planning retirement income, that’s often exactly what you want — and a joint and survivor SPIA can genuinely deliver it. But the survivor percentage you choose is a real […]