QLACs-Qualified Longevity Annuity Contracts

QLACs-Qualified Longevity Annuity Contracts: In this episode of Ask The Hammer, Jeffrey Levine of Buckingham discusses the pros and cons of qualified longevity annuity contracts (QLACs). QLACs are a type of annuity that can be used to reduce required minimum distributions (RMDs) and provide guaranteed income in retirement. Levine notes that the biggest benefit of QLACs is that they can help you outlive your money. Additionally, the income payments from a QLAC are guaranteed, which can provide peace of mind in retirement. However, Levine also cautions that QLACs are illiquid and cannot be sold back to the insurance company. Additionally, the returns on QLACs are typically lower than other investments, such as stocks or bonds. Watch more episodes of Ask The Hammer at this link: https://www.finstream.tv/videos/ask-the-hammer/