Tag: annuities
Common Retirement Mistakes
The USA Today published an article titled Seven Big Mistakes Couples Make in Retirement. While the agents at Montana Life Group likely can’t help with Mistake #1 (couples that never talked to each other about retirement), we certainly can be a useful tool in avoiding Mistakes #3 (couples that didn’t do proper financial planning), #4
…read more »The Power of Tax Deferral
When discussing when you should buy an annuity, we mentioned the tax deferred status of certain accounts. For example, many retirement devices, such as a 401k account or an annuity, allow the taxpayer to defer paying taxes until retirement. Let’s explore why tax deferral is such a powerful tool. Pay Less in Taxes With tax
…read more »Limited-Time High Interest Rate MYGA
What is a limited-time high interest rate MYGA? From time to time, an insurance company will have special limited-time offer for a Multi-Year Guaranteed Annuity (MYGA) with a higher interest rate. For example, we were notified by one of our carriers that, beginning June 6, they are offering a MYGA with a 3.15%* interest rate. It’s a 5
…read more »What are the Pros and Cons of MYGAs?
We have had a tremendous amount of inquiries regarding Multi-Year Guaranteed Annuities (MYGAs) in the last year. The recent enthusiasm for MYGAs is the result of the sustained low-interest environment we’ve found ourselves in. Below are some of the pros and cons of MYGAs, followed by our recommendation. Pros of MYGAs: Safe Better interest rates
…read more »What is a Multi-Year Guaranteed Annuity or MYGA?
A popular type of annuity is called a Multi-Year Guaranteed Annuity, or MYGA. Below we’ll explore the question “What is a MYGA?” and give examples of when it’s appropriate to use a MYGA as a savings vehicle. What Does MYGA Stand for? MYGA stands for “Multi-Year Guaranteed Annuity.” It is a fixed annuity, meaning it has a fixed interest
…read more »5 Reasons to Lock in Gains Now
We have had a nice run in the stock market since the housing crisis. Hopefully you were able to take full advantage of the growth experienced in the equities markets. Even if your portfolio hasn’t experienced double-digit growth over the past few years, you might be well-advised to take a more conservative approach for the years
…read more »Should I exchange my existing annuity for a new one? Read this first!
By Nina Avery, CFP® My partner and I were recently contacted to give a second opinion and explain a proposed annuity exchange to a confused consumer. If you have been contacted to exchange your annuity please contact us for a second opinion at Nina@montanalifegroup.com or Troy@montanalifegroup.com. We will be happy to evaluate your case and
…read more »Protect the Ones You Love and Create A Secure Retirement at the Same Time
Written by: Nina Avery, CFP® Less than a week before my dad died he asked me to make sure he had done everything he could to protect my mother and make sure she was taken care of financially. I don’t know if he knew he was going to die or if it is just
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