The Truth About Annuities: SPIA, Variable, Fixed, Fixed Indexed

In this episode of Retire Smart Maryland, host Cynthia DeFazio sits down with Ozzie Culhagil and Nick Innerbichler of Elite Income Advisors to demystify annuities. With sales at record highs, are annuities a smart way to create a retirement paycheck—or a product to avoid? The team breaks down the types of annuities (SPIA, variable, fixed, and fixed indexed), who they can help, common misconceptions, and how to evaluate the annuity you already own. What you’ll learn: • Why annuities are surging and where they fit in a plan • SPIA basics: immediate income and the big tradeoff • Variable annuities: market risk, fees, and when they make sense • Fixed and fixed indexed annuities: principal protection and growth caps • Using annuities to create a personal pension and fill income gaps • How to review an old annuity and when a “refi” style switch may help • Avoiding dinner-seminar surprises: what to ask before you buy • Planning for survivor income, LTC-style features, and tax treatment #RetireSmartMaryland #RetirementPlanning #EliteIncomeAdvisors #Annuities #FixedIndexedAnnuity See the timestamps below to jump to a specific topic! 👇 TIMESTAMPS: 00:00 Intro: Why so many people are asking about annuities 01:08 What is an annuity really 03:05 Why sales are up and the “personal pension” role 05:10 Types overview: SPIA, variable, fixed, fixed indexed 08:25 SPIA explained: immediate income and beneficiary tradeoffs 10:15 Variable annuities: upside, downside, and fees 12:30 Fixed annuities: CD-like guarantees 13:25 Fixed indexed annuities: floors, caps, and indexed crediting 16:00 How we decide if an annuity fits your plan 18:10 Newer features: income riders and LTC-style boosts 20:05 Reviewing an old annuity and today’s higher-rate environment 22:20 Avoiding the “sold at dinner” problem: questions to ask 24:40 Filling survivor income gaps with annuities 27:30 Action step: Complimentary income-for-life report 29:10 Call to action and how to book If you have specific questions you would like to address with the team at Elite Income Advisors directly, schedule a visit here 👇 https://app.greminders.com/t/9b595902 =================================================== If you enjoy this content, please 𝐒𝐔𝐁𝐒𝐂𝐑𝐈𝐁𝐄, 𝐥𝐢𝐤𝐞, 𝐨𝐫 𝐬𝐡𝐚𝐫𝐞! ⭐ 𝐂𝐎𝐍𝐍𝐄𝐂𝐓 𝐖𝐈𝐓𝐇 𝐔𝐒 𝐎𝐍 𝐒𝐎𝐂𝐈𝐀𝐋 𝐌𝐄𝐃𝐈𝐀 ⭐ Facebook:   / eliteincomeadvisors   Instagram:   / eliteincomeadvisors   LinkedIn: https://www.linkedin.com/company/elit... Disclosures: Investment advisory services offered through Elite Income Advisors, Inc., a registered investment advisor located in Ellicott City, Maryland. The firm only conducts business in states and jurisdictions in which they are properly registered or exempt from registration requirements. Registration is not an endorsement of the firm by securities regulators and does not mean the advisor has achieved a specific level of skill or ability. All investment and insurance strategies have the potential for profit or loss. Asset allocation, rebalancing, and diversification will not necessarily improve an investor’s returns and cannot eliminate the risk of investment losses. Insurance and annuity products are sold separately through Retirement Planning Services, Inc. Insurance and annuity product guarantees are subject to the financial strength and claims-paying ability of the issuing insurance company. Neither Elite Income Advisors, Inc. nor Retirement Planning Services, Inc. is engaged in the practice of law or accounting. Tax information provided is general in nature and should not be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation.