I Like It Spicy

I remember the first time my server gave me wasabi for my egg roll.  That green paste looked so mild until it hit my palate. Ouchy Momma! (Actual words have been modified)  It was the hottest spice I had ever tried at the time.  But I like spicy. Maybe you do, maybe you don’t but we all want choices and variety.  Annuities come in a wide range of styles with lots of add on features.  Remember, the basic purpose of every annuity is to provide a lifetime income.  The variety allows us to customize our annuity to our personal needs.  For example, you want an annuity that will start your lifetime income when you retire in 5 years, but you might need some money before you start your payouts.  You can use an annuity with flexible payment dates and early withdrawal features.  You might need the ability to draw out a large amount of money if there is a health issue.  Then you should look for an annuity with a nursing home rider. (Riders are add on features to your annuity) That’s why I am going to ask you a lot of important questions before I even mention an annuity.  If you tell me that you want to put money away for 2 or 3 years then buy a boat, I’m not going to offer you an annuity.  It would not be the right choice for what you are trying to accomplish.  Whatever I show you must be suitable for your goals.  Suitability is a very important concept in my world.  It happens on a regular bases in my firm.  Someone comes in to my office wanting an annuity, but after we have talked an annuity would not make sense.  Tell me your story and let’s find out if an annuity would make sense on your retirement menu.