Retirees who withdrew a lump sum from their retirement plans would seemingly benefit from an immediate annuity. In theory the sum can be changed into monthly, quarterly or annual payments “that represent a portion of principal plus interest” and will last over a lifetime. But this has risks: a) getting a lifetime of regular payments… Continue Reading
It’s important that the client reads the small print before signing an annuity contract. There can be various additional fees that might not be so clear. These include: the fee incurred for an early withdrawal which usually starts at 7 percent and then drops a percent each year until the seventh year; mortality fees of… Continue Reading
Annuities can be purchased via insurance companies, agents, stockbrokers or banks. To get the best deal vis-à-vis fees and quality, shop around carefully. Here is what you need to do: Learn about the insurer and then compare contracts. Since there are so many discrepancies in these areas, it is important you do all your homework… Continue Reading
Payouts will be taxed in different ways depending on whether you have a qualified or non-qualified annuity. In the first case, this is basically some kind of retirement plan and will be privy to all tax benefits/penalties Congress established. Benefits include: no payment of income tax on withdrawal of nondeductible/after-tax amount imputed into the plan;… Continue Reading
There are two ways of withdrawing your deferred annuity: a one-time payment or monthly payment. Monthly payments are more common. The amount of money you will receive depends on: size of your contract; your life expectancy; if payments continue after your death; if you have chosen the minimum requirement payment options. If you opt for… Continue Reading
There are different types of annuities, dependent on: how the money is paid in; withdrawn and how it is invested. The most basic ones are: single-premium (where you make the investment in one go); flexible-premium (series of payments); immediate (payments begin once annuity has been funded – popular with retirees); deferred (receive payouts a long… Continue Reading
Investors can benefit from annuities in the following two ways: saving money for a long-term project and a guaranteed income for a set period of time. Annuities are great for funding a retirement or for large education fees when it is set in the child’s name under “Uniform Gifts to Minor Acts.” When the money… Continue Reading
An annuity is a when you get a certain amount of money paid to you “for a fixed or contingent period,” often for your entire life “either in prior installment payments or in a single payment.” There are different types of annuities as well as a variety of tax aspects, dependent on what the… Continue Reading
SocialGO (www.socialgo.com) the main venture of Bright Things, was given an investment equaling US$800K from Veddis Ventures based in Gibraltar. Vikrant Bhargava of Veddis Ventures became part of SocialGO’s board as a non-executive director. In a related event, Bright Things bought Get On With It (GOWIT) Ltd. SocialGO has been getting development and support services… Continue Reading
The government of Brazil will discuss the importance of using natural resources from the environment versus unsustainable behaviors such as loss of biodiversity, change in the climate and deforestation. The latter is weighing heavily on society, according to Ed Young, a researcher at UFRJ’s Economic Institute who has found that close to 60% of all… Continue Reading