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No. We are not securities licensed and therefore cannot give advice, nor manage assets in the stock market. If you are in need of an asset manager, we can recommend a couple highly reputable choices in your area.
Nothing against banks, but a bank can only sell you their proprietary product. Compare that to our service of sourcing the market and all insurance carriers to find the best product and solution for your specific needs.
An agent refers to someone who is licensed to sell insurance. An agent can be captive, meaning they work for one insurance company and can only sell that company's products. Or, they can be a broker, like we are at Retire Paid, and can represent any number of carriers and their products.
This should be a conversation, but we'll try to keep it short and simple. The idea behind having a stable retirement is to separate income from investments. Income should be stable, reliable, guaranteed and predictable. There should be no risk of loss with your paycheck. Once you've solved for guaranteed pension-like income, you can do whatever you want with the rest. Invest, spend, give etc. A stable retirement can't be tied to unstable assets.
That depends on a number of variables that we can help you figure out. We'll help you assess your living expenses, social security and other income sources, and your timeline for retirement. Our job is to find a carrier, product, and product structure that solves the retirement problem for you specifically.
As the consumer, you do not pay us. The insurance carrier we use for your solution will pay us a commission based on their fixed commission rate, and the commission will be paid out of their general account.
A bad investment is one that doesn't fit the goals of the investor. Our first conversation together will explore if an annuity solution is even right for you in the first place. Also, there are annuities that we wouldn't necessarily say are bad, but don't really fit with our mission and goal to create stable, reliable, safe and secure income streams for our clients. Variable annuities fall into this category and are not a product that we represent.
No. The insurance company pays commissions to us based on their fixed compensation schedule. Commissions are paid from the carrier's general account and cannot be altered, kicked-back, or marked up in any way.
We are not limited by specific carriers, and can work with pretty much any insurer out there. Our team of experts constantly keeps us up to date with the best companies, best performance and recent changes in the marketplace so that we only use the top rated, most favorable and most consistent carriers in every solution.
Do you have guaranteed income? If so, do you have enough? If the answer is no to either of these, we can help you stabilize your retirement and take the risk off of your paycheck.
An annuity can be a great addition to your portfolio! With the market, you'll likely have more potential upside over longer periods of time, but you'll have to stomach the up and down ride. With an annuity product, especially one structured for your situation, you can "win by not losing" over that multiple decade timeline. You'll also have a guaranteed personal pension income that you won't have to think or worry about. The stock portfolio will still carry risk of loss. Let us show you some side-by-side illustrations so you can assess whether or not an annuity is a good solution for you, and how much of your portfolio would make sense to allocate.
Retirement is an overused word. To us, it just means the next chapter of life for you, usually in your later years. It could mean rocking chairs, grandkids and beachfront. It could also mean working a part time job, or starting that dream small business. You determine that. We help you create a paycheck to fund that lifestyle!
While that will always be a customized, case-by-case answer for all of our clients; we typically see somewhere between 20%-40% of a person's investible assets go towards a guaranteed income solution.
Each annuity contract is funded by a lump sum. Some carriers allow for additional funds to be added within a handful of months. A better strategy is to open and fund a new contract when you have the capital to invest. We know people who have many different contracts. It's not uncommon for someone to open a new contract each year or every few years. Say they get a bonus at work, or sell a property or inherit some assets. Think of each new contract as a new and separate pension payment. Those investors who have 5, or 10 contracts will have 5 or 10 guaranteed streams of income for life when they turn on the paycheck! Pretty nice!
We can only work within the savings, expenses and lifestyle that you have or are willing to have. Sometimes expenses are too high, and savings is too little. If we can't cover your basic living expenses with guaranteed income, we'll look at whether or not it makes sense to cover at least a portion of your fixed costs.
Many of the "gurus" out there do offer some good general advice. However, their advice is just that... "general." Everyone's situation, emotions and behaviors around money are different. There are those who say pay cash for a house and save your way to millions. There are others who say leverage the bank and finance your way to millions. Both can be right, and both can be wrong depending on the individual and their preferences and experiences. Our promise is to work with each individual to help them discover what path gives them the most peace and confidence.
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