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True or False: Annuities


How well do you understand annuities? Take our quiz and find out!


1. True or False: Annuities offer tax-deferred growth.


2. True or False: Annuities can provide income that is guaranteed for the rest of your life.


3. True or False: Annuities should not be considered as an option while planning for retirement.


4. True or False: Annuity death benefits are generally not subject to probate.




1. True. Under current law, taxes on the growth of an annuity are deferred until the income or withdrawal phase.


2. True. Many annuities include lifetime payout options, which provide payments that are guaranteed for your lifetime.


3. False. Annuities can provide income during retirement. As such, they are an option to be considered as part of the retirement income planning process.


4. True. In general, annuities with a death benefit – a payment to the spouse or other beneficiary after the annuity holder dies – are generally not subject to probate, depending on the state.



Neither Midland National, nor any agents acting on its behalf, should be viewed as providing legal, tax or investment advice. Your client should be advised to rely on their own qualified adviser.



Are You Saving Enough for Retirement?





Have you checked out our retirement tools to make sure you’re fully informed about how annuity products can play a role in your financial planning process, and to double-check whether or not your retirement savings rate is sufficient? Even if you have a solid financial plan in place, it's smart to check periodically to make sure you’re on track. And if you haven't gone through a financial planning process at all, it's time to start.



Staying Active in the Fall


The days are getting shorter, everyone’s back from vacation and in many parts of the country the weather will be getting cooler. That's no reason to stop exercising! Follow these tips for fall workouts that will help you stay active this autumn:


- Start to incorporate workouts you can do at home, such as using your stairs for cross-training exercises, for days when it’s too cold to get active outdoors


- Try high-intensity cardio workouts to make sure you fit exercise in even as your schedule gets busier


- Check out new equipment, such as the BOSU ball, to keep things fresh as the weather gets colder


- Use pre-made workout plans for a week or two to add variety



Read more at active.com.



Home Remodeling Trends for the Sandwich Generation


Across the country, an increasing number of households include multiple generations living under one roof: children, parents and grandparents sharing a home. According to the U.S. Census Bureau, more than 4.3% of households now qualify, compared with 3.6% in 2006. Several trends contribute to this growing phenomenon, including adult children moving back home and seniors who can't afford to live on their own.


For homeowners in the “sandwich generation” providing shelter to their parents and children, this has changed the way we remodel homes. Some families are installing “granny pods,” mini-apartments with separate kitchens and bathrooms. Others are paying extra for medical equipment, special showers and other features appropriate for aging parents. Experts suggest incorporating the need for “sandwich generation” remodeling into the financial planning process, and being strategic when making renovations so that the home can adapt to changing needs in the years ahead.

Read more at Marketwatch.



Financial Planning After Death or Divorce


Whatever the reason, getting used to life as a single person after years of marriage is one of the most stressful experiences imaginable. It's essential to undergo a thorough financial planning process to make sure you're on the right track – but not right away.


Experts say you’ll need time to process the emotions associated with a divorce or the death of a spouse. Rash decisions made during this period can backfire. But when you feel ready, make a new budget based on your new income and expenses, and do a thorough evaluation of your longer-term financial picture, including the state of your retirement plan and/or retirement income.


A financial advisor can help make sure you have a clear-eyed view of your situation and options and assist in creating a sound financial plan for the future.


Read more at CNBC.



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