John spoke about variable annuities which he says could be considered an “income faucet” to turn on when needed or off and it would continue to grow until needed.
Annuities can produce income from 5-7% regardless of how the stock market is doing. Rates are locked in when the market is down and can go up in better markets. Figure out how much money you need to cover critical expenses and invest enough in the annuity to produce income to pay for those indefinitely even if your account balance drops to zero.
1.1% of account balance pays for management fees, guarantee of income, & guarantee of getting the highest balance paid as a death benefit.
Any fund available to other investments can be used as an annuity fund and LPL gets the same commission regardless so they are able to advise based on what’s best for you and not what will make them the most money.
Give John a call if you are interested in discussing this further.