Category: Retirement

ATTORNEY NEWSLETTER Avoid The Hype on Fixed Index Annuities Insurance Not Investment Fixed index annuities (FIAs) are sold by agents as “safe” market return products. Don’t buy it. Our lawyers recommend avoiding annuities of any kind, including fixed index annuities, especially for seniors. Fixed index annuities, like all annuities, are […]

ATTORNEY NEWSLETTER The Downsides to Annuities in Retirement Plans Consider Other Tax-Deferred Options Risks to Seniors Our litigators recommend against annuities because commissions, fees and surrender penalties reduce returns and make it expensive to get your money out if you need it. We especially advise against any such investment for […]

ATTORNEY NEWSLETTER Agent Hype Covers Up Downsides Know What’s In The Fine Print Annuities pay big sales commissions to agents. Carriers in turn design new products so agents have more inventory to pitch. Fixed indexed annuities are currently the hottest and most over promoted product in the annuity world. Agents […]

ATTORNEY NEWSLETTER Keeping Retirement Savings for Yourself Avoid Deferred Annuities With Fees and Surrender Charges The closer you get to retiring the more you try and save for the future. While saving as much as you can is important, where you put those savings is equally important. Insurance agents, financial […]

ATTORNEY NEWSLETTER Annuity Scams Targeted At Seniors Annuity Fraud On average, a senior victimized by financial elder abuse loses over $140,000. That level of monetary loss is devastating.  Unscrupulous insurance agents are among the financial predators on seniors, selling them unsuitable annuities and life insurance that line agents’ pockets with […]

ATTORNEY NEWSLETTER Be Wary of Annuities in Retirement Accounts 401(k)s and IRAs Are Already Tax-Deferred Tax deferral is the key to successful retirement savings. 401(k)s, IRAs, SEPs and the like offer tax deferral and retirement savings grow tax-free until it’s time to withdraw without penalty after age 59 ½. Earlier […]

ATTORNEY NEWSLETTER Understanding Immediate Annuities An immediate annuity is an insurance contract where the policyholder makes a single lump-sum payment and then begins receiving back almost immediately regular income payments. Imagine, for example, you’re over 60 and sell your home and decide to put some or all of the proceeds […]

Self-Dealing Lawsuits Mount Against JP Morgan, Price, and Others Fiduciary Self-Dealing Injures Employee/Plan Participants Now, another participant in the JPMorgan Chase 401(k) Savings Plan has sued plan executives alleging that the plan favored JP Morgan investments over less-expensive investment options. That self-dealing, the complaint alleges, violates fiduciary duties under the […]

ATTORNEY NEWSLETTER Long Term Care Insurance Benefits Denied: What, Why, and How to Fix It Background Knowledge of Long Term Care Insurance Long term care insurance, in essence, is there to, unsurprisingly: take care of you long term. The basis behind the insurance is you purchase it, pay your premiums, […]

ATTORNEY NEWSLETTER If you’ve ever seen an advertisement for free lunch seminars on living trusts, or for the astoundingly low cost to set one up, you may be thinking it’s too good to be true. Well, you’re right. It’s probably a lure for a living trust mill. It has long […]