Well it has taken up 3 months of my life to create Maryland Annuity Resource to transfer everything from my brain to this website. Trust me when I say that there is a whole lot more to find out and discover about Annuities. We hope that you learn something new and discover that the word Annuity is not a bad word. There are many people out there that are making a ton of money talking about what to do with your money, but most of it is pretty good advice but mainly it is just talk. The real people in the world that use their money to make money do not really talk about it. If it was me, I wouldn’t but I truly believe that Annuities are awesome investment products.
I own 3 different types of Annuities and I will continue to invest using Annuities. My first exposure to Annuities and especially Annuity Income was several years ago while conducting a real estate settlement. I met with a lady and a small condo development and after talking a while we started on her loan paperwork. She explained to me that she was close to 78 years old and she felt kind of ashamed to be enrolling into a 30 year mortgage. I told her not to be ashamed because rates were so low, that why not take advantage of the low rates and try to save some money. She also stated that she was retired and on a fixed income and want to spend more money on her grandchildren. That was a good enough reason for me but I was only there as the neutral third party but it made sense.
We were almost done with all of the paperwork and we came upon her loan application. It stated that she was retired but had a substantial income. Far above the loan payment for the new loan as well as her old loan. When I presented this documentation to her for her signature, she told me a 30 minute explanation why her income is so high for her age. She went on to tell me that her husband which is now deceased invested in Annuities and that is where all of this income is coming from. She said that the older she got, the payment from the Annuity got higher and higher and she was happy about it but really didn’t understand why. She was a charming older lady and I just really enjoyed listening to her stories and being an audience for her to express herself. I have not kept in touch with her but I know she is ok, at least with that much income she should be.
After I left that appointment, my interests were peaked and I began to explore everything I could find about Annuities. When they started, how they worked and was it all really true. I am happy to say that yes it is all true but you have to remember that an Annuity is a contract, and contracts are meant to be read. Not all annuities are the best fit for every situation, but if you take the time to research a product to fit most if not all of your needs, then there is an Annuity in the picture. One thing is for sure and that is Annuities can create lifetime income you cannot outlive.
Jack Fleming – Insurance Broker
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