Market May Bode Well for Fixed Annuities

Last year saw record sales for annuity products as a whole, at $241.7 billion, with Fixed Indexed Annuities selling well in the first part of the year. And an industry lobbying group predicts the annuity market may expand in short order: low interest rates that hindered sales of fixed annuities will rise, and demand for guaranteed-income products will continue to grow as the vast number of Baby Boomers head into retirement, according to the Insured Retirement Institute. About 10,000 Boomers turn 65 every day, a pace that will continue until about 2033. The passage of the SECURE Act also bodes well for sales long term, IRI noted, citing the legislation’s fiduciary protections for plan sponsors. Favorable conditions for those products would give FIA sales a big boost, as would increased sales through broker-dealers, according to Cerulli Associates, who says FIA sales will soon outpace variable annuities.

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You Can Be Young and ‘Old School,’ Too

Old School” works better than any other manner of professional commerce. Old School is getting to work early, setting yourself up for success and hitting the ground running. Old School is doing more than’s expected and going the extra mile; it’s keeping your word, contract or no contract. Old School is saying thank you and sending a handwritten note or a thank-you card. Old School is a telephone call or a face-to-face conversation. Old School is a sense of pride in a job well done. Old School is making a contribution to something greater than yourself. You can do this, regardless of your age.

 

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More Americans Are Working Longer

The share of retirement-age Americans participating in the workforce crossed the 20% mark for the first time in 2019 – that’s double the rate of “retirees” employed in 1985 – thanks to longer life expectancies and better health care. That means more than 10.6 million Americans 65 and older were working or looking for employment last year, according to the Bureau of Labor Statistics.

 

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