Thank you for this video. I have been wondering about annuities. Somebody told me that you need $300,000 to get $1000 in dividends a month. I have no idea if this is true or not. I’m not sure if GICs would necessarily work either? To get a couple thousand dollars a month or maybe three guaranteed or worry free. The stock market could go bad for a few years when you really need it. High Interest savings accounts won’t be here for long. I’m not sure if interest rates will ever be something to be counted on. Annuities seem like a possibility though I don’t know much about them. Thanks for covering this topic.
@derekcox6531
4 ай бұрын
Great episode. It really is helpful to at least discuss the subject of annuities so people are aware of the product, and can then do their own homework. 👍
@nickiv.o.1215
4 ай бұрын
Thanks for this!
@pedestrianfare8175
4 ай бұрын
Thanks for this! One thing I'd like to learn more about is Federal insurance for annuities in Canada. . My vague understanding is there's a certain coverage for monthly payouts up to a certain amount, then reduced percentage coverage for amounts beyond the base. (in the case of the insurer failing). If there isn't similar protection for work pensions, that would be an additional reason to obtain quotes outside the work pension.
@K4Financial
4 ай бұрын
Yeah, a couple of people asked, so I’ll look into it before the next video. Work pensions do not have protection.
@josephjuno9555
3 ай бұрын
Stan Annuity Man suggest a MYGA Ladder or MYGA to SPIA? Have you heard of this before?
@jovicrazed
3 ай бұрын
Commuting the DB pension to an annuity is interesting. I'll need to look at that when retirement gets closer. Still a few years from now, at minimum. Though longevity is so hard to predict with any certainty.
@sandray7609
4 ай бұрын
"Your kids are losers" 😂😂😂 Good one, Kent!
@josephjuno9555
3 ай бұрын
I retired from Hospital with modest fixed Pension. The Pension is actually through TransAmerica Insurance Not from the Hospital so they shud not be able to change anything no matter what happens to the Hospital.
@ryanm7171
4 ай бұрын
Doesn't your annuity providers give a better rate to those with lower life expectancy? I got an annuity years ago, and I provided proof of diabetes which actually increased my monthly payments. I also found that paying for term life insurance for the amount of the annuity was a way of dealing with the uncertainty of possibly dying too quickly. And, Also Go Oilers Go!!!
@K4Financial
4 ай бұрын
I guess it must. That’s a decent way to protect the estate, but health issues and insurance premiums aren’t exactly a nice relationship. I’d suspect that we could provide better solutions without selling the expensive products in that case.
@rrwoodyt
4 ай бұрын
What if the annuity provider goes bankrupt? (Also, Go Oilers!)
@K4Financial
4 ай бұрын
Best guess, another insurance company buys the assets/debt. We also have some pretty substantial issues if one of these giant corporations goes bankrupt.
@ryanm7171
4 ай бұрын
I have an annuity and apparently there is some sort of consumer protection agency, Assuris, that protects you up to 100% of the first $5000 in monthly payments and 90% above that. My own annuity company went out of the annuity business but was bought by BMO before anything bad happened, so I was fine. If you are really worried, make sure your monthly payments are less than $5000.
@K4Financial
4 ай бұрын
@@ryanm7171 thanks for sharing. I’ll look into it as I also assume there is some insurance but wasn’t sure of the details
@pedestrianfare8175
4 ай бұрын
@@ryanm7171 THat's great news. I understood it was 100% coverage for the first 2000/month, and 60% after that. Perhaps to a hard limit of $5000? I don't know if applies to pension annuities.
@josephjuno9555
3 ай бұрын
Let's Go Red Wings!
@deshrajrai-us2js
3 ай бұрын
bro you need a thumbnail designer Because I see that the quality of your designs is not that attractive
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