A recent report by The Insured Retirement Institute shows what many of us already knew: There are tax advantages to annuities — duh. The basics of that statement is not the insider information; it’s the little details the study uncovered.
For instance, “the report found that the tax deferral of annuity earnings is of greatest benefit to middle income Americans, who comprise the largest segment of annuity owners. With 80 percent of annuity buyers having incomes less than $100,000 and 64 percent earning less than $75,000, insured retirement strategies clearly play a significant role in the retirement income planning of middle class Americans.”
I spoke with IRI President and CEO Cathy Weatherford to get a read on how advisors can take advantage of that information.