It is clear that you will have many questions and we will answer all of them, but there are some common and most frequently asked question that we would like to address now.

1. No one can guarantee you are not going to lose money. It’s a myth that there is no way someone’s not going to lose money. There are proven strategies and products that can accomplish that day in day out, and we use them everyday with our clients.

2. My broker says I am guaranteed in this Variable Annuity. What’s guaranteed? The death benefit?  – Then you must die to get it.   Your initial deposit? –  Then your growth is not.  No losses? – The Variable Annuity is invested in the open market and therefore subjected to its losses. Income for life? – Based on what and what happens if the annuity lost money in the meantime.

3. You can do better by putting all your money in the market. In the long range the market may outperform more secure products, but it will always have its up and downs. Is the next one a bear market where 25% of the value is lost? Or, as it happened a few years ago, the market went down 50%? Can you take a loss of 25-50% at your retiring age? When is it going to rebound and how much? In the meantime, you are going to play catch up and no new growth is going to happen.  “Houston, we have a problem….” The feeling those words conveyed will be the feeling you’ll have regarding your hard earned dollars. At retiring age it is better to have a steady, predictable growth, that allows you to plan for the future. There may be a place for your money in the market but for small amounts that you will not need and under the Independent Fiduciary Responsibility management modality.

4. Annuities are bad and you will never be able to get your money back. – Nonsense. Nothing more false than that. Although annuities have surrender charges (and so do CD’s) they are limited in time and they allow quite a bit of liquidity, or they may become a steady income source for the retirement years with strong guarantees. Do not let them fool you with such blanket statements.

5. Long Term Care is too expensive and you are too old to get it. – Hogwash. Question: who is going to pay for it if you are going to need some type of care one day and you are not covered for it? Your IRA? What are you going to tell your wife if most of your retirement savings is going to be used to take care of a LTC need for you, whatever that will be from home care, to assisted living, to nursing home? There is a way to have that covered even if you never bought LTC before, by just reallocating some of your retirement funds.

6. Life insurance is just wasted money, you have to die to cash in and is too costly and only term life is good. Again, another unfounded statement. Life insurance could be used to give you a steady income stream, tax free.  Or it could pay for estate taxes on a large estate. Or it could be an additional enhancement to your retirement. Term would be too expensive and too short of a program at retirement age and will not have many advantages that other plans may have. Life insurance is a planning tool for many circumstances, even to pay for LTC.

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