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Is your current bank CD (certificate of deposit) rate not cutting the mustard? Are inflation and taxes eating away at your buying power? Looking for a 401k rollover to an IRA? How about having a retirement income you can't outlive? We specialize in securing your life's retirement savings in fixed tax deferred annuities. We offer fixed annuities in PA, OH, VA, and FL. He offers a variety of solutions that are suitable for those individuals seeking:
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- A guaranteed retirement income for life
- Guarantee of principal (no risk)
- Tax deferred growth
- Ability to leave a loved one a legacy that is free from probate in many cases
- A possible reduction in your social security tax
- A possible reduction in your income tax
If you are 55 or older and are contemplating retirement, have just changed jobs, own an IRA, own CD's, or have just inherited money, we should talk. If you desire saftey of principal and guarantees, please answer a few questions and get your FREE CD Alternative Guide and Personalized Report.
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Monthly Editorial:
Mike Chiango
3/2008
Inflation:
Folks, inflation is on the rise. Some experts say that inflation will rise steadily over the next several years. Inflation is the hidden virus that can lay dormant for years and even decades but a virus that can wreak havoc on your quality of life in retirement. Remember what a gallon of gasoline cost just a few years ago? What did you pay for your first house? Isn't it ironic that a brand new car can now cost more than your first home. In short, it's not how many dollars you own but how much the dollar can buy?
It concerns me when I see elderly folks earning just 2%-4% on their CD or money market. Please check out the most up to date CD rates. In fact, my own grandmother had all of her money in a pass book savings account for years. Sadly, she was only earning 1% on her life savings. True, the money is FDIC insured and is a very safe money place. And the rates are guaranteed, however, with the current inflation rate at around 4% you may be going backwards in terms of your buying power. In addition, earned interest on CD's are taxable and their are penalties for early withdraw. Millions of Americans own CD's and money market funds and may be losing their buying power. Do you know what the same banks giving you 2%-3% on your money charge in interest for their credit cards? It can be 10%-15%-20% and even 30%! Does that sound fair?
If you own CD's, we should probably talk. How would you like to earn an upside growth potential of 7.75% on your money, without risking your principle? Let's assume you cold get even just 1% more on your current 3% CD. Let's base it on $50,000 over ten years with the extra 1% growing tax deferred. That could mean over $7,000.00 in your pocket without any real effort. Contact me now for a no cost consultation!
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