Archive for the ‘Annuity Immediate Quote’ Category
Date : March 11th, 2010Category : Annuity Immediate QuoteAuthor : Editor
Is the Reagan Era Officially Over?
Sen. Chuck Schumer has called the recent Democratic takeover of Congress the end of the Reagan era.
Friday, December 1, 2006
Star Parker – Scripps Howard News Service
Sen. Chuck Schumer has called the recent Democratic takeover of Congress the end of the Reagan era.
If we believe a red flag that the Wall Street Journal has run up about a possible Republican capitulation with the new Democratic majority on Social Security reform, our own Republican president might prove Schumer right.
The Wall Street Journal, and other sources, now report that the Bush administration is expressing openness to forget the idea of private ownership as the basis for Social Security reform, and to work with Democrats to “save” Social Security as it is with tax increases and benefit cuts.
Badly needed reform of our wounded and limping Social Security system has been seriously hampered by what I call the politics of cynicism.
These politics are driven by politicians primarily motivated by protecting their own power and interests as opposed to those of their constituents.
What’s my proof that Social Security reform is driven by this cynical brand of politics?
No one could possibly argue that Social Security is a good program today. If we did not have it, and any politician tried to propose it and get it passed, he or she would be laughed out of Washington.
Social Security is a unique government program in that every taxpayer can personally evaluate it by asking the simple questions – What am I paying, What am I getting, and Is it worth it?
The Heritage Foundation’s Social Security calculator tells me, for example, that a 25 year old male earning $31,000 can expect, based on the Social Security benefit he’ll receive, almost a negative one percent return on the money he puts in over his working life.
If he purchased a diversified portfolio of stocks and bonds over this same period with this same amount of money, this guy could get an annuity five to six times greater than this Social Security benefit. But even a bank CD would produce a monthly payment that could double Social Security.
There are other relevant points that anyone who has been following this debate can recite. With a private account this guy owns his money. Under Social Security, he doesn’t even have a legal right to the benefit. Which is material because the government is constantly changing the rules.
Can you imagine getting a letter from your bank or broker saying they are lowering the return on your investment because they can’t afford to pay you what they promised?
But, this is what is about to happen, again, with Social Security.
Not only are the returns to taxpayers negative, but they are guaranteed, beyond any question, to get worse. The system is bankrupt and can only continue in its current form through some combination of tax increases and benefit cuts. Which will drive what individuals get for what they put in even further south.
Why, then, does there seem to be a political consensus to save this monstrosity?
Politicians will tell you it’s because the American people want it. The polls say so.
And indeed they do. But the fact is taxpayers support this status quo out of fear and not knowledge.
Certainly, no sane individual would buy a program that has the personal investment economics that I just described.
When President Bush proposed changing the program to one of ownership and private accounts, the Democratic Party launched major league into the politics of cynicism. The message that working Americans heard was that they would be kicked off a government program guaranteeing them a payment at retirement in exchange for taking their money and investing it in the stock market.
Is it any wonder that many dived for cover?
I call this the politics of cynicism because there is not a single Democratic senator or congressman who would purchase an insurance policy with the type of legal and economic realities of Social Security. Shut the door and one by one they know the truth.
The Democrats’ campaign to “save Social Security” has really been a campaign to save their own butts.
To have endorsed the president’s reform would have been an endorsement of a fundamental move away from welfare state politics that has been the bread and butter of the Democratic Party.
Now, playing on fears and not the real interests of working Americans, and the inability of Republicans to stick to and sell their message, the Democrats have won.
The real victims are the low and middle income Americans whose hard earned money is being sucked into this black hole that will only get deeper and blacker. This is happening while Democrats bewail wage and wealth stagnation at the lower end of our income spectrum.
Is a Republican White House, for fear that it will look like it did nothing on Social Security, about to join Democrats in the ranks of the politics of cynicism?
The Reagan era is still alive for this writer. Let’s hope it’s still alive in the Bush White House.
Photo Copyright Getty Images
Copyright Scripps Howard News Service 2006
you want Bush to “work” with you but you pick the things you your self think is stupid and nobody would do. you just want to make sure the service state stays in tact is how I read it but Im a stupid conservative.
obviously not one of you read this….
Tags : Explain, liberals, Please, This
Date : March 11th, 2010Category : Annuity Immediate QuoteAuthor : Editor
1: Regarding annuities, you can either make one lump-sum payment to purchase a single-premium annuity or make ongoing contributions to a flexible-payment annuity.
True
False
2: An immediate annuity is a financial vehicle that can provide guaranteed income for a short period of time only.
True
False
3: Your name, place of residence, and a brief description of your assets are typically part of what is included in a will.
True
False
4: Two of the most important items included in your will are naming a guardian for minor children and naming an executor.
True
False
5: A dying will is a separate document from your will that lets your family members know what type of care you do or don’t want to receive should you become terminally ill or permanently unconscious.
True
False
6: It is generally a good idea to keep emergency items in a safe deposit box.
True
False
7: Does FDIC insurance cover the contents of a safety deposit box?
Yes
No
Tags : Annuities, Annuity, either, lumpsum, payment, Purchase, regarding, singlepremium
Date : March 11th, 2010Category : Annuity Immediate QuoteAuthor : Editor
Can someone please explain, in lay terms, what an immediate needs annuity is, and how it relates to paying for care homes.
Tags : Annuity, Immediate, Needs
Date : March 11th, 2010Category : Annuity Immediate QuoteAuthor : Editor
Or, should I buy an immediate annuity? Home value $200,000, mortgage free. CDs $150,000. Paid-up burial policy and $5,000 life insurance policy. No debts except usual household expenses and home maintenance. Disabled son lives with me.
Tags : $2000, Annuity, Care, Immediate, Income, Insurance, Long, Month, perhaps, Purchase, Should, Term
Date : March 11th, 2010Category : Annuity Immediate QuoteAuthor : Editor
I’m trying to find out wether they are any good. If they are, who does them?
I know you pay a lump sum and in return get payments for care for the rest of life (lump sum being approx 4 to 5 x the annual payment).
Where can I get more independant advice?
Thanks
Tags : Annuity, Anyone, Care, CFPP, dealt, ever, Fees, Immediate, Needs, payment, Plan
Date : March 11th, 2010Category : Annuity Immediate QuoteAuthor : Editor
- Boy’s long sleeve screenprinted thermal shirt.
Product Description
Boy’s long sleeve screenprinted thermal shirt…. More >>
O’Neill John Hancock boys thermal L Brown
Tags : boys, Brown, Hancock, John, O'Neill, thermal
Date : March 11th, 2010Category : Annuity Immediate QuoteAuthor : Editor
I hope someone can resolve this question.Me and my significant other have been together for 17years we are not legally married.We went to a tax auction in our state of washington state the pacific northwest.We bought property and put the property in both of our names.We just put the property up for sale.My question is my significant other owes back child support. His son is in college now but still owes back child support.I need to know if and when we sell this property will there be a lein on the property because his name is on the property as one of the owners.and will they take out the back child support when we sell the property.We are selling the property on our own but if the buyer wants to go through a title company will this back support be taken out.We live in western washington near seattle
Tags : child, Question, support
Date : March 10th, 2010Category : Annuity Immediate QuoteAuthor : Editor
I know the definition of an annuity and I comprehend what it is, but where do they come from? Like after you retire, does your 401k turn into an annuity?
Tags : Annuity, Help
Date : March 10th, 2010Category : Annuity Immediate QuoteAuthor : Editor
Below is the question- I just cant seem to figure out how to show for the rates given below as solution using a BA II calculator or any other financial calculator. Does anyone know how to solve for the rates using a calculator?
Bentley Inc. has bonds on the market making semiannual payments, with 12 years to maturity, and selling for $1,200. At this price, the bonds yield 20 percent. Note: default value for face value is $1000. What must the coupon rate be on Bentley Inc.’s bonds? Round your answer to two decimal places
The correct answer was: 24.45%
As the bonds make semiannual payments:
Time to Maturity = 12yrs × 2 = 24 years
YTM = 20% / 2 = 10%
Let’s denote C as the coupon paid each period
Bond value = [Annuity present value of the coupons] + [Present value of the face amount]
1,200 = $C × (1 – 1/1.1024)/0.10 + 1000/1.1024
Solve the equation, we get C = 122.26. Therefore, coupon rates = 2 × 12.23% = 24.45%
Thanks
Tags : Coupon, Finance, Question, Rate
Date : March 10th, 2010Category : Annuity Immediate QuoteAuthor : Editor
Does anybody know if John Hancock wrote any documents or pamphets before the signing of the Declaration of Indepedence? Even something small or insignificant. I’m having trouble finding anything on the internet. Or if anyone knows any internet sites that might say. Thanks.
Tags : documents, Hancock, Important, John, write
Date : March 10th, 2010Category : Annuity Immediate QuoteAuthor : Editor
What monthly payment is needed to make an ordinary annuity obtain $200,000 in 30 years at 9.75% interest?
Tags : $200000, 9.75%, Annuity, Interest, Monthly, Needed, obtain, Ordinary, payment, Years
Date : March 10th, 2010Category : Annuity Immediate QuoteAuthor : Editor
Tags : Back, child, Equity, From, House, married, owns, Paid, sells, support
Date : March 9th, 2010Category : Annuity Immediate QuoteAuthor : Editor
You have a 40 year old client, who wants to start saving for retirement, with her first payment coming one year from now. She can save $5,000 per year, and expect an average return of 9% in the future.
A.) How much money will she have at 65?
B.) How much money will she have at 70?
C.) If she expects to live for 20 years in retirement if she retires at 65 and for 15 years at 70, and her investment continues to earn the same rate, how much could she withdraw at the end of each year after retirement at each retirement age?
3.)A.) For this problem, I plugged in the following values into the financial calculator application: N = 25, I = 9%, PV = 0, PMT = -5,000. The variable to be solved in this case is the future value. The answer I got was $423,504.48.
B.) For this problem, the only value I switched was N = 25, to N = 30. The answer I got was $681,537.69.
C.) At 65 years old, the client could withdraw $46,393.42 each year during retirement, for 20 years. I arrived at my answer by inputting the following values into the financial calculator application: N = 20, PV = -423,504.48, I = 9%, and FV = 0. The value to be solved for is the payment, or the withdrawals she would be able to make at the end of each year.
At 70 years old, the client could withdraw $84,550.80 for 15 years. I arrived at my answer by inputting the following values into the financial calculator application: N = 15, I = 9%, PV = -681,537.69 and FV = 0. And again, the value to be solved for is the payment, or the withdrawals she would be able to make at the end of the year.
^ Those are the answers I got. Can anyone just check them over and make sure I did the problem correctly?
Thanks.
Tags : About, Annuity, Future, Question, Value
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