Do You Really Understand Your Plan?

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With folks that are a few years out from retirement or have entered retirement, a big dominant question, a big topic of conversation that pops up is annuities. Annuity might be some people\’s favorite subject, but generally, when we talk about annuity, there is so much confusion and so much misunderstanding about what the advantages and the disadvantages are. One thing that annuities can do is they can elevate the predictability of retirement. Sometimes we have to take a look at it a different way to make your money last for a longer period of time. That\’s where annuities come in, but they\’re not for everybody. In certain circumstances, they work out and people have different reasons for doing that. Get clarity and be educated on the different types of annuities and how they work.

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Do You Really Understand Your Plan?

David, I am excited about the show because I have been waiting for answers. I have been confused about what is the right answer and what is the wrong answer when we talk about annuities because there is so much confusion. There\’s so much misunderstanding about what are the advantages, what are the disadvantages? In some of our pre-show leading up to our preparation for planning this show. I’m super excited to be able to educate and shed some light for our audience.

Joe, we share with you all the time feedback from the show, feedback from our workshops that we do. As a full-service financial planning company, we deal with all kinds of questions. With the market that we work with the audiences that we have conversations with, which are folks that are a few years out from retirement or have entered retirement, a big dominant question, a big topic of conversation that pops up is annuities. The good, the bad and the ugly. What we try to do here at Thrive is be this repository of education and advocacy and we want to help people find out what the truths are versus, \”I read this, I heard this.\” What\’s popular isn\’t always right and what\’s right isn\’t always popular. We try to be that resource for people to give them the answer, so they can make an educated decision. We\’re not in love with annuities, but we love what they can do in certain circumstances. From an educational approach, we should get a lot of clarity for people out there in our audience.

My mother-in-law used to say to my wife in reference to her portfolio and in terms of the topic or the conversation of annuity, she was always confused and didn\’t understand how it would work once she passed and she couldn\’t wrap her arms around what was going to occur with if she had money in an annuity at that point in time. For her that was a bit hanging.

We find most times when we sit with clients that want to have an annuity review done as part of their retirement road map review, because they don\’t understand what they bought. Most times annuities are sold, they\’re not bought by the consumer. We dive in very deep and get as clinical as somebody wants us to be, but people do walk out with complete and utter clarity. We understand them inside and out. The other thing Joe, we want to make sure people understand is annuity is a broad term. There are many types of annuities within each type of annuity. There are subclasses of annuities. We\’ll get a lot out about annuities and how they work.

If people have questions, they can call us at (800) 516-5861.

They can schedule a time to come in and get a retirement road map review, which will include an annuity analysis if they own annuities or they\’re thinking about annuities. If they\’re not, we\’ll certainly talk to them about their risk profile and their investments. If they need Social Security maximization report done. If they want to know about taxes and it\’s the hot topic at the time of year. These are things that we can do during that Road Map to Retirement Review.

[bctt tweet=\”What\’s popular isn\’t always right and what\’s right isn\’t always popular.\” username=\”\”]

We welcome Karen Bezar into the program. It’s nice to have you joining us. How are you doing?

I’m great. Thanks for having us.

You\’re going to cover it in the beat block. You\’re going to stay with annuities, but you\’re going to dive below the surface. Tell us what you\’re going to specialize on.

I\’m going to specialize or include how annuities can unleash the power of delaying your Social Security. Some people think picking Social Security is putting your numbers on a dartboard and hitting it with a door and there\’s a lot more to it than that.

We talked about an example raised where a coworker who opted for Social Security, gave that advice to a friend of his who ultimately ended up signing and it ultimately ended up not being correct because of the circumstances being so different.

That\’s why we are here because we say be careful who you take your advice from.

Bret Elam is here. The man who is getting no sleep. He always zeroes in on tax day. At least that\’s my understanding of one of the many things that you do. It’s nice to have you here to be part of our dialogue and our conversation on annuities.

We’re going to talk about annuities and some of the taxation, where they fit in the equation overall and how they relate to the tax conversation. We\’re going to go through another story here of someone that we met and going against the grain of conventional wisdom and talking about inevitably how it fits with all the other puzzle pieces.

Throughout the show we\’ll give you some updates on some of the upcoming workshops. We\’ll provide that information for you. David, let me come back to you and get started here. How do you begin? Do you say is it an annuity for dummies? What\’s the best way to start to be able to educate the audience?

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It always comes up in conversation. When you\’re talking financial planning, retirees, whether someone has been introduced to annuities as a solution for them or they\’ve heard a friend had it, somewhere it\’s going to come up. There are different types of annuities out there. They all don\’t fit into one category and there definitely is not a one size fits all situation. The three types of annuities that are out there are variable annuities, indexed annuities and fixed annuities.

Variable annuities have to be sold by someone who carries a securities license. The reason being is that there\’s some underlying pieces of a variable annuity that are market-related. Variable annuities have how they work and how they operate. They\’re sold by securities licensed people not necessarily fiduciaries, but people who do carry securities license because the variable annuities has a securities component to it. Then, there\’s indexed annuities and they are the newest group of annuities. They\’ve been around since 1995, but they keep evolving. They\’re growing based on the needs of the consumer out there. They\’re a hybrid between what a variable annuity looks like and does and what your traditional fixed annuity does. Then, you\’ve got that third class called fixed annuities. Fixed annuities are very simple and don\’t have a lot of moving parts to it. It\’s like an option to a CD. They\’re not insured by FDIC or anything like that, but they carry a basic interest rate for a set period of years and then you can convert them to an income stream basically exchange your money for a guaranteed income stream that lasts your lifetime. Within each of those classes there\’s some nuances.

Bret, you had mentioned that you were going to get into an example. We\’ll do that with a client. As David starts to lay that out, does that fit into the thought into where you were going to go with your example?

We\’re always treading the waters of how much you want to say some of these words like annuity and other topics like reverse mortgage. People think you\’re throwing up. When you start talking about the features and the benefits, does it matter inevitably with what it\’s called? We\’re always careful in the choice of words when describing inevitably how they work. When we truly look back into the absolute details on how they work and people start seeing how it\’s an appropriate fit for a piece. Not everything but a piece of someone\’s portfolio.

Karen, let\’s jump into your segment here in the Beat Block and tie it all together for us as you teased in the opening segment.

Annuities might be some people\’s favorite subject. We\’re weird that way. We love everything dealing with financial planning, financial awareness for everybody in our practice. What we do here is we take an objective holistic approach to dealing with our clients as a whole. One of the things that annuities can do is they can elevate the predictability of retirement. Unfortunately, a large segment of the Baby Boomer generation are under saved for retirement. Sometimes we have to take a look at it in a different way to make your money last for a longer period. That\’s where annuities come in.

[bctt tweet=\”Annuity is a broad term. There are many different types of annuities within each type of annuity.\” username=\”\”]

They\’re not for everybody. It\’s not something that we suggest for every person that comes here, not every client that we have has an annuity. In certain circumstances, they work out. Like David said, we have different reasons for doing that. When we talk to clients about or somebody who\’s potentially going to be a client about annuity, they have the same questions and same concerns or they heard from somebody that they\’re not good and why aren\’t they good? One thing I do want to stress is we are independent. Some annuities aren\’t good, but we’ve searched the market and we only work with products that we know that are in good standing and that are going to do the right job for the client.

We just don\’t sell one type. There are many different types in the same segment. There are many different types of indexed annuities. There is not one indexed annuity. I encourage people to call in (800) 516-5861 and get a Retirement Roadmap Review from us. If you have questions about annuities or you have annuities, bring them in. We\’ll be glad to go through them. A client came in with about six or seven annuities and plotted them down in front of me. When I asked him, “Why did you purchase these in the first place?” They\’re not 100% sure why. Like your mother-in-law said they\’re confusing and your wife said they were confusing. We\’re here to explain it to you. Some people don\’t want to know and we\’ll do that as well. We won\’t go into the details. We ask people like Bret says, \”Do you like hot dogs?\” \”Yes.\” \”Do you want to know how they\’re made?\” Some people do, some people don\’t. We always give an educational approach to everything.

I would encourage our audience to not be so reluctant to or resistant to asking so you understand. Sometimes our biggest hurdle to get over is we\’re either self-conscious or embarrassed, \”It\’s something I should know because I\’ve reached this point in my life.\” I don\’t necessarily believe that to be the case. Sometimes we intimidate ourselves into finding out what the right answer is.

What we pride ourselves on is creating that environment that the only stupid question is one, it\’s never asked. It\’s letting people have their guard down and feel like they are in that right environment that they can get all their questions answered. We believe that knowledge is power and that\’s why we educate people so they can make the most informed decisions. We\’re independent and we take our time. It doesn\’t matter if people like us or have us help them with the investments of their money, traditional investments, stocks, bonds, mutual funds, ETFs. Is it an annuity? Is it life insurance? Inevitably, it\’s the importance of us why we create an independent company so we can take our time, slow down, have people have some clarity. Inevitably what we\’re offering, what we\’re helping with and putting all those puzzle pieces together of figuring out how much of what makes the most sense of in completing that financial plan. That\’s all part of the Retirement Roadmap process.

You get to a point where you own six annuities and you don\’t know what you own.

They\’re sold, they\’re not purchased. As we were planning each week, it\’s like, \”What topic do we want to cover?\” What do we hear a lot about? Two things. Karen\’s going to talk a little bit more about how you can use an annuity that generates income and what that will allow you is between the time that you start the income on the annuity. It\’s going to allow you to delay taking social security. The reason we want you to potentially delay social security is you can increase your benefit for yourself and then possibly end up leaving a survivor benefit that\’s much higher than it might have been. People tend to listen or tend to take value in what they read.

Social Security is a great annuity, not annuity in a sense that we\’re talking about, but the longer you can delay, you get an 8% increase in what your income would be if you can delay it. The longer you can wait the better. That will have an effect on your spouse as a survivor benefit. I met a couple, she didn\’t even have enough working credits to have her own Social Security Number. She was totally dependent on what her husband\’s income and what his survivor benefit was going to be for her to survive, if God forbid he passed away before her. That\’s number one, that\’s why we say the longer you can delay social security, the better. We take everybody\’s case by case basis.

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An annuity can give you a stream of income that is guaranteed for the rest of your life. What\’s one of the things we don\’t know about retirement, Joe? What age are we going to live to? You could end up being in retirement for 30 or 40 years depending on your situation. Isn\’t it nice to know that you\’ll have Social Security coming in and a stream of income from an annuity that you had set up that\’s going to stay there for as long as you live. The other thing you were talking about was there\’s three specific reasons we go to annuities. Number one, there\’s a shortfall risk. There is a probability that you\’re going to experience a shortfall in income. There is a shortfall risk in I didn\’t save enough money and the money that I do have saved in retirement, that\’s not going to last me for the rest of my life. We can recognize that before it gets to a dire situation.

The third one is legacy. Your mother-in-law wasn\’t sure, \”I put this money into an annuity. What happens if I pass away two or three years into the annuity? What\’s going to happen with what\’s left over?\” These are different reasons to have an annuity. It\’s an important thing when you have children. We put our kids through college, we buy them their cars, get them on their way and some people say, \”I\’ve done a great job with my kids. I\’m not that concerned about legacy.\” Some other people are concerned about their children or they have children with special needs and there\’s legacy situations that annuities work great with.

I know my mother-in-law who was from old school resisted the educational part of it to the point where she fell back on the old-fashioned in the bed sack or wherever her comfort zone was. Even my wife said that that may have been a deficiency of hers. It comes down to getting educated and advocating. We’ll bring Bret Elam into the conversation.

I want to talk about a client we met who was on a second marriage with both spouses keeping money separate. I’ll call her Betty and there\’s a fifteen-year age gap between them. We went through part of that Thrive Roadmap to Retirement Review process, finding everything that meant something to Betty of importance. What we figured out was she had some concern about legacy giving the most amount of money her children. In addition to that, she had some long-term care concerns because both mom and dad went to facility so she understood how that eroded the “legacy” that she was going to get from her parents. In going through the analysis, what we uncovered was she had needs herself, not the husband, but she needed to provide $4,000 a month to the household to make that household work.

She was in a fortunate position that she had a pension. She had a pension in Social Security and between those two payments, she was netting about $5,500, almost $1,500 a month. That was coming in between pension and social security more than covering that $4,000 need. When we went through that as part of the Retirement Roadmap Review process, we looked at her taxation and she was doing some Roth conversions along the way there. We also looked at the MoneyTree report, and we gave her a double thumbs up that things were going to be well after a couple of potential corrections or life experiences from a healthcare standpoint. Then we got to Riskalyze.

[bctt tweet=\”Annuities can unleash the power of delaying your social security.\” username=\”\”]

When we went through that Riskalyze, we sent out that questionnaire where from a numerical standpoint is that she came back again measuring her level given the market at a 53. It\’s a little bit higher than what we see. Betty is a 68-year-old young lady. When we put in her portfolio, it came back at a 50. She was a balance between self-managed and then she worked with one of the biggest companies in this area, a small company called Vanguard. She was paying some fees as part of their program 0.3%. Her management fee to her adviser was 0.3% at Vanguard and then she was all mutual funds at Vanguard.

A lot of the same ones that we use as well. She wasn\’t necessarily as balanced as she could have been. Some of the holdings that she had in there was like a total stock market fund. We love it, we use it, the Total International Stock Market Fund. Then she had a couple holdings in there called the Vanguard Total Bond Market Fund. I don\’t care whether you\’re in the Vanguard Total Bond Market Funds, the PIMCO Total Return Fund, there are so many bond funds that are popular that are out there. I said, “You are 95% of the way there. What I need to talk about real quick is talking about the bond side of your portfolio, which consisted of about $900,000, about $350,000 was made up of bonds.”

Remember back in 1980 where interest rates, double digit mortgages, double digit CDs. I remembered my first-time in banking, I had a young lady, twenty-year CD, 18% that she got in the \’80s that came do, and not much you could do at that point in time. We saw from 1980, almost through 2010 that interest rates were on their way down. It means if I had a bond, the principal of my money was going up. Inverse relationship, if rates are going down, the principal in my bonds are going up. Then we saw a small period from \’04 to \’08, they did go up, but again, over that 30-year period, they essentially went down, stayed flat essentially at zero to when everyone was refinancing between years 2010 and 2015, and then ever since the election.

It\’s been a whole new world for bonds. The first 60 days after president Trump got elected, we saw the worst bond market in United States history. We saw tenure treasury go from 1.5% to 2.2%. Then we\’ve seen a gradually increase. Every time the Fed seems like they speak now, they continue to increase interest rates. After going through that initial dialogue, we went right onto Vanguard site and looked at that Vanguard Total Return Fund. What we saw, it hit a high, meaning it was $10.90 per share. Then a little more it hit its low at $10.45. Krause, I asked you the question again conventional wisdom, if I don\’t have my money in stocks because it\’s aggressive, I put my money where because I think it’s going to be safe?

Where?

Bonds. Conventional wisdom, stocks, bonds. Who has experience, especially baby boomers? Talking about baby boomers, how much money did you have in the early \’80s?

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Not a lot.

You weren\’t necessarily caring about this stuff, but now fast forward 40 years later, they have the most amount of wealth in this country is we see that interest rates as they are going up. All of a sudden, our principals exposed that number that I shared with you Krause is that over the past seven months, her bond portfolio is down 5%. No one thinks about that. My money\’s in bonds. It\’s my safe bucket. Here at Thrive, it\’s part of the Retirement Roadmap Review process is we go through all of that. What I had shared with Betty, I said, \”You\’re there. One of the things that we pride ourselves on here at Thrive we meet a lot of people that are self-managed like yourself, is we show people where they can provide the most value possible in the conservative side of their portfolio.”

Vanguard, great company, we used our funds. However, when she\’s speaking to that gentleman at Vanguard, his options are Vanguard, Vanguard and Vanguard. They\’re not telling them to do anything else. Karen did a great job talking about why Thrive is independent. We take our time, a slow process in going through it. We had shared a story with you. I said, \”Betty, instead of having that money in your bond funds, we\’re susceptible to loss. Just like we\’ve seen over the past six months where if you put a dollar, it\’s guaranteed two years from now to be worth no less than a dollar.\” Worst case scenario is I can\’t lose. In addition to that, we\’re looking for interest rates for bond-like returns. If I can get somewhere in that for maybe 3% to 5% to 6%, I\’m not shooting for the moon. I\’m not shooting for 8%, 10%, and 12% I\’m going to get my stock portfolio. I’m looking for conservative returns. I‘m looking for bond-like returns. I can\’t lose money on a principle standpoint so long as I understand, I got to play by the rules.

Then in addition to the solution that we had shared with her, because she had some concern from a long-term care point from what happened to mom and dad was that if something happened to her is that her money can grow from a long-term care perspective. Not the reason that we\’re looking at the solution. It was looking at that bond alternative side of things. What I had shared with her was an annuity. The first thing that she did was said, \”Bret, thank you so much for telling me how it works before you told me what it was. In my mind I thought I knew how annuities work. I thought once I gave up a dollar I wasn\’t going to see it for the rest of my life.\” It\’s part of this show is that there\’s so many different annuities. It\’s saying the word annuity is that there\’s so many different flavors to make it work.

This particular annuity over the past decade has an average return of 5.5%. In fact, over 10% rate of return is what Betty would have had if she had it during that calendar year. This is what\’s important Krause with that annuity is every year, whatever those games are, they\’re locked in. There\’s a lot of people in the radio says, \”Avoid annuities. You\’re going to 2% to 3% return.\” Is there anything wrong with 10%? If the market goes down the year after, you can\’t lose. There was a small fee associated with that solution that we shared with her, it was 0.5%. At Vanguard, she was paying 0.3%. She was paying another point 0.1% for her funds, the internal cost so she was paying 0.4%. We were talking about going up another 0.1%. With that it allowed her the ability to get out after two years it gave her those rates of returns of 5.5%. Her particular situation, her money was inside of IRAs.

[bctt tweet=\”Be careful who you take your advice from.\” username=\”\”]

I got to tell you, but that\’s a deep dive though. To fully understand the scenario as an individual, that\’s getting into the details.

Then for her, because it was inside of an IRA, Krause, she was approaching the age of 70 and a half and a lot of people may feel like we\’re getting ready to enter correction, or if it\’s not going to happen we know it\’s going to happen sometime in her retirement. One of the big deals instead of the word bond, we\’re putting the word annuity where if the market corrects itself again year in and year out, we have to pull out money out of our IRA accounts once we hit the age of 70 and a half. Another way how we are going to be able to utilize this annuity is that we have the ability to withdraw up to 20% a year. That\’s a little bit not abnormal in the annuity world. It\’s our job. We\’re independent to go out there to the open market, find out what solution best suits our clients.

In an example the markets collapsing. Let\’s say 2008 happening again the market\’s down 40%. If you don\’t sell your stocks, you’re okay, it\’s going to come back eventually, but yet the government says you need to pull money out to satisfy your requirement of distribution. That\’s why I said, \”Betty this year that if that 2008 happened, we\’re going to go pull out that requirement of distribution from the annuity.\” Why? Maybe we\’ll do it the next year as well because we know inevitably that stock market\’s going to recover.

The money that I\’m giving her full rank keep that other $600,000 fully heavily invested in the market because we know the long-term things are going to be okay, but we need to have that hedge if we will sit on the sideline. If it\’s bonds in normal environments, maybe it\’s bonds, but in terms of the interest rate environment where we believe the Feds going to continue to increase interest rates and annuities a great alternative to looking at that safe side of the portfolio.

Real life example from Bret Elam. Thank you so much for sharing. It shows the necessary importance, David, in the individual depth of meeting with the client and understanding how it\’s all going to work.

I know that we have had a lot of dialogue so far to date in the show about annuities. We have nowhere near scratched the surface on all of it but we’ve certainly been able to provide some good examples and some good information.

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You can get a sense that there a lot more than just saying, “I hate annuities or I love annuities.” I hate those declarative statements. We hear them all time. We hear him in radio commercials and never ever buy an annuity. You should always buy an annuity. Anytime somebody makes those types of statements, you\’ve got to be cautious. Like anything else, Chevy\’s aren\’t the perfect car for everybody, but they\’re a great car for some people. You can go through every consumer product and come up with that. What we encourage people is if it is something you have a question about, find out all the details so you can make that educated decision versus going on assumption. I know it\’s a hassle. It takes time and if it\’s a little bit painful, but again, when you\’re in retirement, the one thing you don\’t get as a do over. You want to make sure that you do it right the first time around. Karen was talking about the success rate of a retirement really can have a tipping point to it not everyone, but for a lot of people that if they don\’t have that extra guaranteed income from something like an annuity, the gap between their expenses and what social security will provide might not be enough.

They may be going to their retirement assets and those retirement assets may end up being stressed too much during market declines to make that money lasts their lifetime. We\’d hate to see people miss out on that, but then again, there are times that it\’s completely inappropriate. You can\’t make a blanket statement. If you\’re an insurance agent, you\’re not at a fiduciary every time somebody talks about retirement income planning, your recommendation is an annuity because that\’s all you can do. You’ve got to be careful with people when that\’s the case.

Joe is putting some facts out there. Something was interesting. We did a continuing education course for CPAs. We hosted it over at a local hotel and the continuing course, the education course, the topic was indexed annuities and indexed universal life. We had 40 CPAs in attendance. We spent a full day going through how indexed annuities work. How fixed annuities work, have variable annuities work, the comparison between all the different kinds. We talked about indexed universal life as well because that\’s another solution for people who are looking to build up retirement assets on a tax deferred basis. The most interesting thing that occurred was that the end as we were giving out the certificates, the CPAs, your trusted advisers they asked, \”Can we come in and have a session with you to learn more and see if any of those solutions are applicable to our own life?\” They said they never ever knew that\’s how annuities worked. If they knew that\’s how annuities work, all the detail took away all the misinformation.

They would not only be buying it for themselves, which a bunch of them ended up doing that, they would also be making recommendations to their tax clients that if you need another solution that gives you principle protection to get it accomplished, we will be able to offer that. These are very educated people in the financial world not having the information necessary. Joe, I want to point out again, this is not just us. We\’re not here to try to promote annuities. Most of our audience are, \”No, this is probably the first time that we\’ve brought him up.\” The only reason we\’re bringing it up is because we\’re getting asked so many questions related from our audience.

If people want to go look for some facts, third party information out there, it\’s an actual research paper that was done by Jack Marrion, Geoffrey VanderPal and David Babbel. David Babbel is the professor of insurance and finance at the Wharton School of Business, University of Pennsylvania. He\’s a senior adviser to a number of investment management firms and he\’s a fellow of the Wharton Financial Institution Center. He\’s got all the degrees. This guy knows what the heck he\’s talking about. He and his counterparts, they are put together this research paper on real world indexed annuity returns. I\’m not going to go into great detail. People can Google it, it\’s a PDF. They can grab it on there. A couple of points here said, \”Financial advisers and financial planners have sought various programs to provide clients protection from systematic risk, also known as market risk. Various asset allocation strategies have been used with limited success when extreme market movements and Black Swan events occur.\”

[bctt tweet=\”The longer you can delay social security, the better. \” username=\”\”]

It\’s these things that a lot of people are anticipating, like we saw in 2000 what we saw in \’87, what we saw in the \’08 and \’09 great recession. People are starting to feel that type of a situation may come back sometime over their retirement years. The whole article goes through explaining how annuities work and then more importantly, they say at the end of the article that people should consider an indexed annuity as a possible solution to prevent loss from conditions that people or entities, marketloss type situations. That the lowest return that we saw over any ten-year, indexed annuities have been sold now Joe since 1995.

They\’ve got a lot of five-year segment showing what returns are and the lowest average return over, the worst scenario was 4.19%. We don\’t tell our clients that they need annuities as their overall portfolio. If you want to that piece of the mark, the piece of your portfolio that would have been the long bonds and in long bonds, you\’re only getting 3%, 4%, 5% type of return here we can eliminate the risk of the long bonds because interest rates are rising by using an annuity. That\’s our clients have gone gangbusters ever. They think it\’s a great concept, that\’s one article.

Then an article came out where there\’s a guy named Roger Ibbotson. He\’s responsible for a lot of research done in the industry. He wrote a paper that says that his new research indicates that fixed index annuities may outperform bonds over the next decade. It said, \”Fixed index annuities, consider the alternative suggest bond returns in historically low interest rate environment may be insufficient in meeting the anticipated retirement needs of US investors potentially placing many at risk of outliving their retirement savings.\” Couple of things, we can get decent returns in the annuity. We can protect the principle in the annuity and if we need to get guaranteed income out of the annuity to fill that retirement income gap, we can do that.

I hope that at least pulled back the cover a little bit and for people who were so staunched in like annuities are the worst thing that you could ever consider, not that we\’ve converted those by any stretch because we\’re not trying to, but at least they now have some more information that they\’re not going to go out there and spread that annuities are like the plague. Annuities are appropriate in the right type of a situation for the right type of person. If people want to find out, do they fit as part of our Retirement Roadmap Review, they can come in and do that. We could take an analysis of the portfolio through Riskalyze and Moneytree and see if they are interested in annuity, how it might possibly be a fit. They can schedule a consultation with us. Visit our website at ThriveFinancialServices.com or call us at (800) 516-5861.

We hope that we have fulfilled our promise to our audience to educate and provide good information. See you next time.

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