Tag: annuities

July 8, 2016 by Brad Gunning

Common Retirement Mistakes

The USA Today published an article titled Seven Big Mistakes Couples Make in Retirement. While the agents at Montana Life Group likely can’t help with Mistake #1 (couples that never talked to each other about retirement), we certainly can be a useful tool in avoiding Mistakes #3 (couples that didn’t do proper financial planning), #4

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June 20, 2016 by Brad Gunning

The Power of Tax Deferral

When discussing when you should buy an annuity, we mentioned the tax deferred status of certain accounts. For example, many retirement devices, such as a 401k account or an annuity, allow the taxpayer to defer paying taxes until retirement. Let’s explore why tax deferral is such a powerful tool. Pay Less in Taxes With tax

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June 13, 2016 by Brad Gunning

At What Age Should You Purchase an Annuity?

Perhaps you like the security of a guaranteed annuity over fluctuations in the stock market. Maybe you’re looking to move money from a low interest savings account or CD into a higher interest annuity. Regardless, you’re intrigued by the prospect of annuities, but aren’t sure if now is the right time in your life to

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June 6, 2016 by Troy Baccus

Limited-Time High Interest Rate MYGA

What is a limited-time high interest rate MYGA? From time to time, an insurance company will have special limited-time offer for a Multi-Year Guaranteed Annuity (MYGA) with a higher interest rate. For example, we were notified by one of our carriers that, beginning June 6, they are offering a MYGA with a 3.15%* interest rate. It’s a 5

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June 5, 2016 by Brad Gunning

What are the Pros and Cons of MYGAs?

We have had a tremendous amount of inquiries regarding Multi-Year Guaranteed Annuities (MYGAs) in the last year. The recent enthusiasm for MYGAs is the result of the sustained low-interest environment we’ve found ourselves in. Below are some of the pros and cons of MYGAs, followed by our recommendation.   Pros of MYGAs: Safe Better interest rates

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April 5, 2016 by Troy Baccus

What is a Multi-Year Guaranteed Annuity or MYGA?

A popular type of annuity is called a Multi-Year Guaranteed Annuity, or MYGA. Below we’ll explore the question “What is a MYGA?” and give examples of when it’s appropriate to use a MYGA as a savings vehicle.     What Does MYGA Stand for? MYGA stands for “Multi-Year Guaranteed Annuity.” It is a fixed annuity, meaning it has a

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May 18, 2015 by Troy Baccus

5 Reasons to Lock in Gains Now

We have had a nice run in the stock market since the housing crisis. Hopefully you were able to take full advantage of the growth experienced in the equities markets. Even if your portfolio hasn’t experienced double-digit growth over the past few years, you might be well-advised to take a more conservative approach for the years

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December 28, 2014 by Troy Baccus

10 things to ask before buying an annuity

Deciding whether or not to buy an annuity is an important financial decision. Most of the time annuities are purchased based on a recommendation by an insurance agent or financial adviser. But before buying an annuity, ask yourself 10 important questions: 1. Did I shop around? Whether you just met your financial adviser or you’ve been working

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June 26, 2014 by nina avery

Should I exchange my existing annuity for a new one? Read this first!

By Nina Avery, CFP® My partner and I were recently contacted to give a second opinion and explain a proposed annuity exchange to a confused consumer.  If you have been contacted to exchange your annuity please contact us for a second opinion at Nina@montanalifegroup.com or Troy@montanalifegroup.com.  We will be happy to evaluate your case and

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June 15, 2014 by nina avery

Protect the Ones You Love and Create A Secure Retirement at the Same Time

  Written by: Nina Avery, CFP® Less than a week before my dad died he asked me to make sure he had done everything he could to protect my mother and make sure she was taken care of financially.  I don’t know if he knew he was going to die or if it is just

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