Obama hearts annuities! 

Okay, so we’re two weeks out from Valentine’s Day, but Barack Obama has a new sweetheart. It appears the president has fallen head over heels with … annuities?

At least that is the rumor going around. His affinity for the safe product was mentioned in a report from the White House last week.

A New York Times financial column writes at great link on this subject, but I’ll give you the skinny right here.

According to the Middle Class Task Force report:

“The Administration is … Promoting the availability of annuities and other forms of guaranteed lifetime income, which transform savings into guaranteed future income, reducing the risks that retirees will outlive their savings or that their retirees’ living standards will be eroded by investment losses or inflation.”

So, does that make you feel warm and fuzzy about the Obama Administration and your products? Hey, every little bit helps, right? Right?

As always, your thoughts are welcome and encouraged…

• • 2/2/2010 1:45:53 PM
  • Arthur
  • Obama's romance with annuities
  • Where is he on 151? Good article but need the rest of the story!!
• • 2/2/2010 1:58:14 PM
  • Thomas R. Schwebach, CLU, CHFC, CASL
  • Obama: Now The Self Appointed Financial Advisor
  • Of course he likes annuities, guaranteed income means guaranteed taxation upon receipt of income stream and guaranteed taxation upon death to the beneficiary. And his take on life insurance? He wants to indirectly tax inside build up of permanent policy cash values, because he knows that income tax free loans and income tax free death benefits mean result in no federal tax revenue. Obama's all about maximizing taxation and federal revenues in his insatiable quest to expand government largesse.
• • 2/2/2010 2:16:00 PM
  • Legacy
  • COMMENT-Barack Obama has a new sweetheart
  • I don't get warm and Fuzzy feelings At all, As the state of the insurance industry, as a whole, has never been more over regulated, With what I believe, WILL END WITH NO AGENT STANDING!
• • 2/2/2010 2:19:23 PM
  • Dean
  • annuities article
  • Ok w/ me as long as they're fixed annuities. Remember the variables got slammed in the freefall.
• • 2/2/2010 3:14:30 PM
  • Jack C NYC
  • Annuities may help middle-class
  • Middle-Class Retirees Worse Off Karen McMasters Two bills that would help retirees are pending in Congress, the organization says. The Retirement Security Needs Lifetime Pay Act and the Retirement Security for Life Act would provide a 50% tax exclusion on the annual income from a nonqualified annuity, which would encourage people to convert some of their savings or assets to annuities for a lifetime pay check. LINK: http://tinyurl.com/l2vsjy
• • 2/2/2010 4:53:17 PM
  • n. silver
  • Obama and Annuities
  • As a Financial Adviser, I rarely recommend annuities, except to the MOST conservative of investors. The fact that Obama may be promoting such products, should make most pause before purchasing such products.
• • 2/2/2010 5:50:33 PM
  • ann rohn
  • annuities
  • Good news as usually our Pres can be negative on insurance companies.
• • 2/4/2010 12:44:48 AM
  • Errol M.Kofsky
  • In Force Fixed Annuities With a Rider
  • Mr. President, Are You Searching For A Fixed Annuity...But Are Concerned About Inflation? Be savvy. Consider Purchasing a "Personal Settlement Annuity" With An Inflation Rider! Errol M. Kofsky
• • 2/4/2010 11:53:43 PM
  • Driver
  • funny point.
  • Taken from the link to the report : [quote]Even workers who save significant amounts may see their returns eaten away by fees and expenses.[quote] And then turning around and saying this: [quote]Promoting the availability of annuities and other forms of guaranteed lifetime income, which transform savings into guaranteed future income, reducing the risks that retirees will outlive their savings or that their retirees’ living standards will be eroded by investment losses or inflation.[/quote] Isn't it Ironic..don't you think?

• The 100 best marketing ideas
• Five keys to get referrals
• Four tips to move forward in 2010
• 20 Stress-relief tips to boost your profitability
• Get face-to-face with clients
• Everybody’s angry … about health care
• 50 Best Ways to Generate Leads
• How the recession can boost business
• Obama eliminates "Gator-aid"
• Direct mail: Three things you need to know!