Finance

The SECURE Act of 2019 Promotes Lifetime Income Stream Planning

Mark S. CardozaMarch 4, 20206 min read

Frequently Asked Questions

I’m already retired. Have I missed the boat?

No. Income annuities are available for all phases of life, including the accumulation phase, as well as the distribution phase, or retirement. Separation from an employer prior to age 59½ also allows the individual the opportunity to move a 401(k) in full or part to an IRA annuity to begin the income stream building process.

How do I know which IRA annuity will work for me?

A qualified independent insurance professional specializing in programs that fit the SECURE Act and income stream planning is needed. Having an independent agent, not a captive agent, allows you to have the agent shop the private market and offer potential options. A captive agent is limited to the programs that his or her company offers. Once the independent agent has shopped the market, he or she can present several options to fit your needs.

The information presented is hypothetical and for informational purposes only. The advice of a licensed financial professional is advised.

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About Mark S. Cardoza

In 2002, Mark Cardoza was asked to help a family member settle an estate and quickly learned about insurance and its role in estate planning. Shortly after, his father became terminally ill and Mark learned about long-term care needs, such as Medicare and Medicaid. He quickly immersed himself in the industry, learning the intricate functions of asset protection, retirement, estate, and eldercare planning. He holds the designation of CLTC (Certified Long Term Care) specialist and is certified in the area of trusts and estate planning. Mark suggests that when interviewing a professional to choose fiduciaries, you can refer to questionnaires provided by the <a href="https://rercna.com/">Retirement Education Resource Center of North America, Inc. (RERCNA)</a> through its book, <a href="http://www.positioning4retirement.com">Positioning 4 Retirement</a>, which discusses team building. Simply go to (scroll down to) STEP 4 - FIND A PROFESSIONAL, and if there isn’t one already vetted in your area, download the questionnaire CHOOSING YOUR TEAM PROFESSIONAL. If you have questions or need assistance, we are available for you by telephone (617-982-3692) or email (info@rercna.com). We will do our best to help you find the true fiduciary professional you need. You can also check out his <a href="http://www.mcardoza.com/">website</a> or contact him via <a href="mailto:mark@mcardoza.com">email</a>.

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