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TIAA Secrets: Where Lifetime Income Annuity Option Doesn't Make Sense
(Formally HigherEd Retire Podcast)
Welcome back, everyone to another episode of HigherEd Retire! Greg Shepard here from S&A Financial Services, your go-to guide for navigating the complexities of higher education retirement plans, especially those involving TIAA accounts. Today, I've got a game-changing strategy to share, especially tailored for those with a significant age difference between spouses.
In a recent scenario, I encountered a participant on the verge of retirement, holding a substantial $700,000+ in TIAA Traditional within an illiquid contract. The catch? His spouse was nine years younger, setting the stage for a unique approach to address liquidity and estate planning concerns.
Join me as we delve into a groundbreaking alternative to the traditional lifetime income annuity option - the 10-year TPA (Transfer Payout Annuity). We'll explore why, in this specific case, the age difference played a pivotal role in making the 10-year TPA a more attractive choice.
By opting for the 10-year TPA, paid out over nine years with annual payments directed to a Rollover IRA, this couple gained increased liquidity and enhanced estate planning benefits. Discover why this strategy might be your game-changer too, especially if you find yourself in a similar age-discrepant situation.
A quick reminder: this episode isn't investment advice, but rather a tool to empower you with knowledge about TIAA Traditional rules and alternative extraction methods. Make sure you understand the nuances of your retirement plan and, if applicable, explore options like the 10-year TPA.
If you've got questions or want to share your unique situation, feel free to reach out to me.
YouTube Channel
📆 Jump on my calendar to see how we can improve your higher ed retirement plan
Website:
www.safinancialservices.com
email: [email protected]
913-521-2381
*Disclosure* S&A Financial Services, Inc. is a registered investment advisor. Content presented is for informational purposes only and should not be considered as investment advice or as an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Always consult with your tax advisor or attorney regarding your specific situation.
View all episodes
By Greg Shepard
4.5
66 ratings
(Formally HigherEd Retire Podcast)
Welcome back, everyone to another episode of HigherEd Retire! Greg Shepard here from S&A Financial Services, your go-to guide for navigating the complexities of higher education retirement plans, especially those involving TIAA accounts. Today, I've got a game-changing strategy to share, especially tailored for those with a significant age difference between spouses.
In a recent scenario, I encountered a participant on the verge of retirement, holding a substantial $700,000+ in TIAA Traditional within an illiquid contract. The catch? His spouse was nine years younger, setting the stage for a unique approach to address liquidity and estate planning concerns.
Join me as we delve into a groundbreaking alternative to the traditional lifetime income annuity option - the 10-year TPA (Transfer Payout Annuity). We'll explore why, in this specific case, the age difference played a pivotal role in making the 10-year TPA a more attractive choice.
By opting for the 10-year TPA, paid out over nine years with annual payments directed to a Rollover IRA, this couple gained increased liquidity and enhanced estate planning benefits. Discover why this strategy might be your game-changer too, especially if you find yourself in a similar age-discrepant situation.
A quick reminder: this episode isn't investment advice, but rather a tool to empower you with knowledge about TIAA Traditional rules and alternative extraction methods. Make sure you understand the nuances of your retirement plan and, if applicable, explore options like the 10-year TPA.
If you've got questions or want to share your unique situation, feel free to reach out to me.
YouTube Channel
📆 Jump on my calendar to see how we can improve your higher ed retirement plan
Website:
www.safinancialservices.com
email: [email protected]
913-521-2381
*Disclosure* S&A Financial Services, Inc. is a registered investment advisor. Content presented is for informational purposes only and should not be considered as investment advice or as an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Always consult with your tax advisor or attorney regarding your specific situation.