#fixedindexedannuity

Why Dave Ramsey Is Wrong About Annuities #daveramsey #401k #annuities

I lost 40% of my 401(k) in the 2008 financial crash. Here's how a fixed indexed annuity can help protect your retirement savings from the next market crash.

In this video, I share my personal story of losing a major portion of my 401(k) during the 2008 financial crisis — and how that experience led me to fixed indexed annuities, a retirement protection strategy I didn't know existed at the time.

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My 2008 losses triggered a chain reaction — a short sale on my home, bankruptcy, and serious health struggles. I'm sharing this because I didn't know then that there were retirement products designed to protect your principal from direct stock market losses while still offering growth potential.

What is a fixed indexed annuity?

Fixed indexed annuities are different from variable annuities. Your money is not invested directly in the stock market. Instead, interest-crediting potential is linked to the performance of an external index and is subject to the contract's cap, participation rate, spread, or other crediting terms.

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Annual Point-to-Point with a Cap

The point-to-point is a simple interest crediting strategy used to measure growth in an index annuity. Annual point-to-point uses the index value from only two points in time, so it may be a good choice if you want to minimize the effects of mid-year market volatility. With this method, the insurance company compares the index price at the end of the index term to its price at the beginning of the term for one year. If the price has increased, the interest credited to the contract will equal the percentage of the index price increase, up to a cap or a participation rate. If the price has decreased, the interest credited is 0% and there would be no loss. This method will typically perform best when the index posts modest and relatively stable gains each year. How it works: On your applicable contract anniversary, the index value from the beginning of the crediting period is compared to the index value from the end of the crediting period.The percentage of change in the index is calculated.If the ending index value is higher than the beginning index value, a participation rate, a cap, or a spread is applied to determine the amount of indexed interest you will receive.If the value is lower, you won’t receive indexed interest.If the final result is negative, no indexed interest would be credited and your contract value would remain unchanged.

2-year point-to-point

Monthly or Daily Averaging is an index crediting strategy affiliated with fixed index annuities measuring changes in the index by calculating multiple dates, the same day each month for monthly averaging, and every single day the market is open for daily averaging. The average of these values is compared with the index value at the start of the index term. If there is an increase in the comparison, that interest will be created (after any fees, spreads, caps) to your account. This “averaging” method will serve to moderate market fluctuations. You cannot lose previously credited interest to your annuity.

Monthly Averaging

With this method, the insurance company looks at the index price at the end of each month of the contract year, adds them together, then divides by 12 to calculate the average. This average is compared to the index price on day 1 of the contract year. If the comparison shows an increase, that increase, in the form of a percentage, is credited to the contract. Some products place a cap on the increase. If the comparison shows a decrease, interest credited is 0%, and there would be no loss.

Daily Averaging

This method for determining any interest credit uses a Daily Average calculation to determine a percentage gain or loss in the index value during your reset period. This is done by comparing the difference between the index value on the first day of the contract year and the Daily Average index value during the year (usually 252 trading days). The interest credit will never be less than zero.

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