@MichaelKitces The true mental accounting is falsely distinguishing a check deposited to a bank account from the insurance company vs. the same money with better tax treatment coming from a brokerage account. The guarantee is just semantics confused with counterparty risk.
@MichaelKitces Retirees who don’t want to deal with distribution planning are blindly giving up control of those decisions in return for ordinary income taxation when capital gains taxation is the lowest it’s ever been. They are convinced their ignorance is financially responsible.
STOP STARTING YOUR EMAILS WITH:
“I HOPE YOU’RE DOING WELL.”
IT’S CORRECT. IT’S POLITE. AND IT’S ALSO ONE OF THE MOST FORGETTABLE OPENINGS THERE IS.
IF YOU WANT SOMEONE TO REPLY, DON’T START LIKE EVERYONE ELSE.
START WITH INTENTION.
HERE ARE 10 ALTERNATIVES: 👇
@jimiuorio Social security is an inflation adjusted annuity with built in disability coverage, spousal coverage, minor child coverage, and survivor coverage for family. There’s no profit margin like with a private insurance product. It’s actually pretty cheap social insurance.
@AdvisorJobs Both are needed for success. Bringing in clients and growing the business is a short term metric unless the quality of advice (technical expertise) is strong enough to retain clients long term. It means the sales team needs to convince the technical advisors to do all the work.
@RomanPuglise That is fraught with human error though. Not processing within 60 days and dealing with “customer service” back office issues. Should be as easy as a rollover to IRA and it’s a mark on the industry that it’s not that easy.
@RomanPuglise Good luck getting the old 401k custodian to send it to the new 401k custodian. They don’t like to play together like that. Nearly impossible to execute this option.