Explained annuities very well! I bought mine at 58.5 years and will not draw off it until 69.5 or 70 years old! My financial counselor was great about explaining it to me since I was not going to have a big pension from all my years working as a nurse. Great part is I am 65 and my husband is 70 and he is still working ( he works from home) which makes waiting until 70 doable!
That's fantastic to hear how strategically you've planned your annuity purchase! Waiting until 70 can maximize your benefits. How did you decide on the right timing for starting your annuity payments, considering your unique financial situation?
Hello from California! I’m so so glad I can reach someone over in Melbourne. I’ve always wanted to go there and see the Australian open! That’ll be my dream one day. Especially when we start my hybrid pension! Kai & Ann Chung
We have several aunties. A MYGA and others that pay out after 10 years. I'm trying to grasp how RMDs will affect these annuities we can't start getting the income rider for several more years.
It would be best to make sure that you talk to the insurance company directly. Unless you have a very, very competent agent. Most insurance companies will allow you to take withdrawals with no penalty for the RMD. Just remember that MYGAs do not have any lifetime income riders. The only way that you can get lifetime income through those is by a annuitizing, which in most cases we do not recommend. Very few situations do we feel it’s necessary to annuitize. Thanks again for watching! Kai & Ann Chung 408-502-7080
@@kciis I'm allowed the 10% without penalty. However, I'm not sure how it effect the income rider amount down the road as I will still have a few years before we can turn it on.
Hello I am learning alot from your videos. Are annuities protected from lawsuits or a divorce ? If i am sued and lose in court can the plaintiff seize all of my annunities from my retirement accounts?
Thank you for your compliment! As you learned from other videos, there are different different type of annuities. Here’s what you will find regarding a general answer, however, it will depend on the specific annuity and the situation. “Many annuities are exempt (protected) from the reach of creditors under either federal bankruptcy law or state law, but some are not. The ability to use the exemption can turn on the particular characteristics of the annuity, making this area of law complicated.” We hope you continue to find our videos educational and give us a call if you would like to see if and which annuity might fit your situation. Kai & Ann Chung 408-502-7080
Thanks for asking. We pick a number in between for those with very little too over 1 million. Thus, $500k. However, all you have to do is simply divide these numbers and half for 250,000. Most importantly, depending your situation these types of annuities may or may not be in your best interest. That’s why it’s supposed to give us a call and we can figure out what’s best in your situation. We have a five step process that will help you figure out what is best for your particular asset level. We look forward to hearing from you. You can call our office here: 408-502-7080 Kai & Ann Chung
You are referring to the variable annuities send the propaganda that’s being fed out there. Every single hybrid pension we sold is between 0% to 1% in fees. I would recommend to watch this video to learn about the five different riders. And then, if you like, feel free to give our office a call to learn more. Our goal is to be be transparent and educational. Kai & Ann Chung 408-502-7080
Annuity is a broad category But MYGAS and SPIA'S don't have fees. They are a contract Think CDs, the rate you see is what you get (take it or leave it) Now there are Annuities with fees
We are licensed with them. However, they do not perform that well compared to others and also lifetime income rider is one of the hypothetical rather than the hundred percent contractual guarantee riders. Because of that, we have replaced many of those. Are you buying it for the lifetime income rider? What is your purpose? Feel free to give our office a call and we can get to know your situation better. Again, we represent over 50 plans. Kai & Ann Chung 408-502-7080
Please post any questions and let us know if you enjoyed this video! (You comments means a lot to us!)
Explained annuities very well! I bought mine at 58.5 years and will not draw off it until 69.5 or 70 years old! My financial counselor was great about explaining it to me since I was not going to have a big pension from all my years working as a nurse. Great part is I am 65 and my husband is 70 and he is still working ( he works from home) which makes waiting until 70 doable!
Thanks for watching our video! Sounds like both you and your husband are well-prepared for retirement when the time comes. 👍
That's fantastic to hear how strategically you've planned your annuity purchase! Waiting until 70 can maximize your benefits. How did you decide on the right timing for starting your annuity payments, considering your unique financial situation?
Thank you for those useful information. You help me to make very well informed and form decision.
You’re welcome!
Kai & Ann Chung
Greeting from Melbourne. Very good lesson for me in annuities education.
Hello from California! I’m so so glad I can reach someone over in Melbourne. I’ve always wanted to go there and see the Australian open! That’ll be my dream one day. Especially when we start my hybrid pension!
Kai & Ann Chung
We have several aunties. A MYGA and others that pay out after 10 years. I'm trying to grasp how RMDs will affect these annuities we can't start getting the income rider for several more years.
It would be best to make sure that you talk to the insurance company directly. Unless you have a very, very competent agent.
Most insurance companies will allow you to take withdrawals with no penalty for the RMD.
Just remember that MYGAs do not have any lifetime income riders. The only way that you can get lifetime income through those is by a annuitizing, which in most cases we do not recommend. Very few situations do we feel it’s necessary to annuitize.
Thanks again for watching!
Kai & Ann Chung
408-502-7080
@@kciis I'm allowed the 10% without penalty. However, I'm not sure how it effect the income rider amount down the road as I will still have a few years before we can turn it on.
Hello I am learning alot from your videos. Are annuities protected from lawsuits or a divorce ? If i am sued and lose in court can the plaintiff seize all of my annunities from my retirement accounts?
Thank you for your compliment! As you learned from other videos, there are different different type of annuities.
Here’s what you will find regarding a general answer, however, it will depend on the specific annuity and the situation.
“Many annuities are exempt (protected) from the reach of creditors under either federal bankruptcy law or state law, but some are not. The ability to use the exemption can turn on the particular characteristics of the annuity, making this area of law complicated.”
We hope you continue to find our videos educational and give us a call if you would like to see if and which annuity might fit your situation.
Kai & Ann Chung
408-502-7080
I wish you used lower amounts....like 50k 100k. All of these clips always use 500k...what about those who have 250-300k like me?
Thanks for asking. We pick a number in between for those with very little too over 1 million. Thus, $500k. However, all you have to do is simply divide these numbers and half for 250,000. Most importantly, depending your situation these types of annuities may or may not be in your best interest.
That’s why it’s supposed to give us a call and we can figure out what’s best in your situation.
We have a five step process that will help you figure out what is best for your particular asset level.
We look forward to hearing from you. You can call our office here:
408-502-7080
Kai & Ann Chung
How can you make any money if there are so many fees?
You are referring to the variable annuities send the propaganda that’s being fed out there.
Every single hybrid pension we sold is between 0% to 1% in fees. I would recommend to watch this video to learn about the five different riders.
And then, if you like, feel free to give our office a call to learn more. Our goal is to be be transparent and educational.
Kai & Ann Chung
408-502-7080
Annuity is a broad category
But MYGAS and SPIA'S don't have fees. They are a contract
Think CDs, the rate you see is what you get (take it or leave it)
Now there are Annuities with fees
Yes. I am the unlucky one with fees because I have a advisor. Never going to trust another again.
hello, are you licensed in Florida?
Yes! We actually assist in all 50 States! FL is one of our most popular states we assist!
By the way, you can call us at:
408-502-7080
-Kai & Ann Chung
What do you think about the Allianz 222 annuity?
We are licensed with them. However, they do not perform that well compared to others and also lifetime income rider is one of the hypothetical rather than the hundred percent contractual guarantee riders.
Because of that, we have replaced many of those. Are you buying it for the lifetime income rider? What is your purpose?
Feel free to give our office a call and we can get to know your situation better. Again, we represent over 50 plans.
Kai & Ann Chung
408-502-7080