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James B. Twining

Retirement, Investing, Taxes
“Financial Plan, Inc. is a fee-only Registered Investment Advisor located in Bellingham, WA.”

Financial Plan, Inc.

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James (Jamie) Twining is the founder of Financial Plan, Inc., and a CERTIFIED FINANCIAL PLANNER™ practitioner who works with an exclusive high net worth client base. Jamie has a niche advising BP Cherry Point refinery employees.

A graduate of the University of Southern California and a devoted husband and father, Jamie enjoys spending time with his family, leading the choir at Sacred Heart Church and outdoor sports including mountain biking, scuba diving, and an annual surfing trip to Mexico.

His favorite pastime on a rainy winter’s night is to sit down with his son Gabriel, open a bottle of fine Pinot Noir and play a game of chess.

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April 2017
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    Annuities, Taxes
How do interest rates affect annuity returns?
33% of people found this answer helpful

The factors that influence an annuitization rate are 1) your age  and 2) projected interest rates.  So as you expected, in a low interest environment, payouts are lower.  Interestingly, annuity issuers do not take into account the health of the annuitant; rather your life expectancy is assumed to be average.  This can create an opportunity if you have good reason to believe, based upon your own health and family history, that you are likely to live well beyond average life expectancy.

That said, annuitization is not usually a good option in my professional opinion.  Life insurance companies must be compensated for their overhead and profits.  The implicit costs of these annuities is generally very high.  For long term investments that are designed to produce gains and income over a lifetime,  you would be better served to eliminate the third party  (the life insurance company) and invest in a diversified portfolio consisting of collective securities such as mutual funds and ETFs.  Any degree of risk and expected return can be achieved through the balance between equity securities (stocks) and fixed income securities (bonds).

Caveat:  If you surrender your annuity, you will required to pay ordinary income tax on the internal buildup.  If that is a large factor for you,  you might cosider a tax free 1035 exchange to a more reasonably priced annuity,  such as the offerings from Vanguard and Jefferson National.  Also be aware that your annuity may carry a surrender charge.  If so, it may be in your best interest to wait until that surrender charge dissappears before surrendering it.

Please get some objective advice,  not a sales pitch from a Fidelity Annuity salesman.  

Yours for success

October 2017
    Retirement, Investing, 401(k)
Should I wait until I am 70 years old to retire?
0% of people found this answer helpful
October 2017
    Investing, Asset Allocation, Choosing an Advisor
Why aren't there advisor fee structures that are more fair to the client?
33% of people found this answer helpful
August 2017
    Debt, Pensions, Social Security, 401(k), Annuities
Should I take funds from my tax deferred accounts to buy an Indexed Universal Life Policy?
25% of people found this answer helpful
August 2017
    Personal Finance, Asset Allocation
How do I determine if I am being fairly charged by my financial advisor?
38% of people found this answer helpful
June 2017