Customer Reviews

Guaranteed Income for Life: How Variable Annuities Can Cut Your Taxes, Pay You Every Year of Your Life, and Bring You Financial Peace of Mind

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I've read many different points of view about the value of VAs -- this book explains them clearly. Lane's book shows how tax deferral wroks. He takes you step-by-step so you can see how all the parts relate and why. Read chapters 5 "Suitable Uses of VAs" and ch 18 "Analyzing the Payout" and you will know more than most advisors. Great book congrads.

I am a novice investor and had no idea what an annuity was. Lane's book gave me the basics of what stocks and bonds were all the way through how to buy and annuity and use it to create a income to last my lifetime. I highly recommend this book.

With all the controversies of variable annuities today, Michael does an excellent job of showing the appropriateness of the annuity. The book was written at the basic level for the investor, capturing an informative overview of the many different investment options such as stocks, bonds and mutual funds and how the annuity fits into the investor's overall investment strategy. I would highly recommend this book to all investors!

Having been in this business for 5 years it's nice to find a refreshing look at the real uses of variable annuities and when they make the most sense. Michael is very enlightening in his approach to when a variable annuity makes sense and for whom. He also is very concise in his description of all the factors which contribute to determining the above. In an industry which is muddled with both the pros and cons of variable annuities this book is a straight shot to doing what is in the best interest of the client.

An excellent primer on annuities. Any investor should read this book before considering purchasing an annuity. As a financial advisor I found his explanations simple yet definitive. Written in manner that any investor will be able to benefit from Michael's sound advice. While I believe that in general annuities are the most oversold product in financial circles (not becuse they are great product but because sellers earn huge commissions), Michael clearly demonstrates that annuities are appropriate in certain situations and tells you how to avoid the annuities that were designed to be sold not bought. He shows you what to type of product to look for when annuities are appropriate. Highly recommended.

This book contains lots of good information about annuities, and is written in very readable style. However, in the end, I cannot get passed the fact that the book is a sales pitch for a particular kind of low cost / low benefit annuity contract, and the company the author works for seems to be the primary player in that space.

I am still in the process of trying to make decisions about where to convert my deferred annuity into a guaranteed income stream. The problem is made very difficult by the large commissions salesmen receive for closing a deal. One can never be certain of what is motivating the salesman to say what they have said. My own analysis is as follows: 1) No one should even consider an annuity unless they have already maxed out their IRA, 401K, and other opportunities, such as a SEP. These are all better than any annuity, and have none of the costs of an annuity. 2) One should consider having only a percentage of their invested assets in an annuity or other insurance product, because of the expense, sales commissions. 3) For many, it is a good idea to have a percentage of assets in a taxed brokerage account, because withdrawals from this account will not be taxed again. When comparing variable annuities, take no statement at face value; double check everything. I have been quoted policies that contained fees never mentioned, and one even contained a 4% front end load (they would take 4% of my capital off the top at the beginning). I discovered these things only by studying the numbers.

Best wishes. A prayer for guidance would be a good idea.