Tags: annuities, income, retirement portfolio

Retirement Portfolio: Annuities and its Popular Lifetime Income

October 25th 2020

lifetime income stream, annuity, there's actually something very unique about what insurance can do for your portfolio

Adding annuities to your retirement portfolio can maximize your income. The benefits include the potential of guaranteed lifetime income

Be sure to consult with a qualified insurance agent such as

Boracchia Wiviott Insurance Services, LLC, a part of award winning Boracchia Wiviott Wealth Partners, before starting any financial service.

Annuities help you grow your retirement income. Simply put an annuity is a contract between you and an insurance company. You buy an annuity by making a lump-sum payment or a series of payments. Similarly, in return, you receive either a single payment or a series of payments in the future. Regardless of the frequency or lifetime income, Annuity contracts require the insurer to make payments to you, either immediately or in the future. 


I’m Lea Wiviott Boracchia, cofounder of Boracchia Wiviott Insurance Services and Boracchia Wiviott Wealth Partners, an award winning investment advisory and insurance brokerage. In this article we’’ll introduce the concept of Annuities, and the popular lifetime income they provide; and how they fit in client’s retirement portfolios.

In the US annuities became popular during the great depression when people started worrying about stock market volatility endangering their retirement. The ERISA act of 1974 promoted stock market investments thereby slowly eroding less risky annuity sales. However, As pension plans are becoming less common and many retirees are looking towards guarantees, annuities are again a coveted option to replace income stream. 


The primary benefits of purchasing an annuity include the potential for guaranteed lifetime income and the option to leave money to your beneficiaries. Some annuities may help pay for long-term care costs. Annuities ultimately provide clients less worry and peace of mind for your money.

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How does an Annuity work?

When you buy an annuity you enter into a contract with an insurance company to provide you income during retirement. You make a single payment or pay in a series for the annuity, and the insurance company invests your money. Then during your retirement, you receive regular payments from the insurance company, depending on the kind of annuity you choose.

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The Impossible Formula for Success


It seems impossible, right? Trading a lump sum aka principal for income you cant outlive. insurance companies actually are established to transfer risk, making annuities right up their wheelhouse.


An annuity works by transferring risk from the owner to the insurance company supplying it. With increasing life spans, less pension, insecure future of Social Security, and people finding it difficult to save for their retirements, annuities can reduce the risk of making critical mistakes with your investments.


Reputation and Money Management are one in the same when it comes to insurers


Unlike other types of insurance, you are not supposed to pay annuity premiums indefinitely. Eventually, you stop paying and begin to receive payments from the annuity. When this happens, your contract enters in the payout phase.


The payout phase could be immediate or a specified future date or age. Whichever you choose, your exchange of payment is assurance you will have a certain amount of money earmarked. The insurer needs to be established and with a track record of success. otherwise you may be in for a rude awakening when you go to claim benefits.


There are companies who stand by their word - and each insurer is highly researched and with lots of client experience.

Annuities make payments to you for a fixed number of years or for a lifetime, until you or you and your spouse if you put the dual survivor income endorsement on it itll pay specified limits until you both have passed away. 


When you are paid for life with a certain annuity and you die during a specified time frame, the remainder of your payments for the contractual period you selected at the time of application will be paid to your beneficiaries.     


There are different types, but all boil down to essentially the same thing, an insurance company that pays guaranteed money either for a lifetime or for a specific period of time and to a specified number of beneficiaries in entirety or at a portion thereof.

Here’s the important types of annuities to Consider in all Scenarios Before Choosing What's Right For You:

Long Term Care Insurance, Insurance, Medicaid, Medicare

An annuity must be suitable and your insurance agent is bound to this standard of care. you also deserve to be educate on your options for a significant portion of your nest egg: 

  • Immediate Annuity

An immediate annuity starts paying income immediately after you make a lump-sum payment to the insurance  company. Basically the period depends on how often you choose to receive income payments. For example: if you choose a monthly income, your very first payment will come one month after you purchase it because payments begin very soon. Benefits of Immediate Annuities expire when you die unless you buy a rider to provide for beneficiaries.

  • Deferred Annuity

A deferred annuity begins its payout at some point in the future chosen by the buyer also known as the annuitant. You have a choice to either pay lump-sum, a series of payments, or a combination of both. A Deferred Annuity is basically a long term retirement plan. Deferred annuities have higher guaranteed monthly payments because incomes are delayed for several years. A deferred annuity is customized for people who are still some years from retirement and don’t need money right away.

  • Fixed Annuity

Fixed annuities work by providing periodic payments specified in the contract (usually five or ten years). They pay guaranteed rates of interest, typically higher than banks’ CDs and you can withdraw income immediately. As long as the insurance company is financially sound, the payment you made in a fixed annuity will grow and will not drop in value. You can convert fixed annuity to an immediate one at any time to start collecting a guaranteed income payout. 

  • Variable Annuity

A variable annuity comes with more risks and potentially higher rewards. With a variable annuity, your money is invested in a variety of subaccounts, similar to mutual funds. The amount you receive from variable annuity vary depends on how much money the portfolio gains or losses. State insurance department, federal securities and exchange commissions regulate them. The upside is that you have a lot of control over your investment dollars. You are offered a maximum stock market exposure.  

Whatever is keeping you up at night, including market volatility, we can help alleviate a lot of these anxieties.  Lea Wiviott Boracchia, cofounder of Boracchia Wiviott Insurance Services and Boracchia Wiviott Wealth Partners

Let's start by taking your fixed expenses, and guaranteeing you can cover them. This usually solves the annuity amount question and provides the most valuable income of all, guaranteed income. While stock market may boast high returns, the value of knowing you arent riding any rollercoaster of volatility in your golden years - especially if you live a long life which people are these days, has a value that is insurmountable.


Dont ever put all your money in an annuity. Be honest with your advisor about your financial picture, this is the best solution to customizing the perfect annuity for you.

Your time for peace of mind and financial security is now!

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Want more award winning financial content? Keep reading for additional annuity options


How Annuities Fit in Clients’ Retirement Portfolios:

As a client, our goal as your wealth partners is to boost your retirement income potential. Having annuities as a portion of your portfolio makes it easy to achieve your retirement goals. Including them in your portfolio reduces the odds that you will run out of money in retirement. 

Adding annuities to your retirement portfolio can maximize your lifetime income. A portfolio including deferred or immediate annuities results in a higher income level throughout your retirement and then a greater amount of legacy assets available to your beneficiaries.


However annuities should not be considered in instances where you plan to break the annuity contract. This is because there are surrender fees that can negate the lifetime income benefits you traded liquidity for.


With this in mind, you can begin to choose the plan that best suits your Retirement Portfolio: 



  • Immediate annuities start paying immediately which makes them suitable for those clients who are retiring now.

  • Variable annuities go up and down with market rates. These annuities are suitable for those clients who are willing to get more control over their future investment gain. We don’t typically recommend these, but there are times they make sense given an individual’s appetite for risk, composition of existing assets; and lifetime income situation. please talk to us first if anyone recommends these call us for a free independent 2nd professional opinion

  • Deferred annuities fit in the retirement portfolio of clients who don’t need money right away because they offer payouts that begin later time.

Certain life insurance policies include cash value which can accumulate tax-deferred growth on a compounding basis, and with guarantees by the insurance company. The earlier you begin, the cheaper many policies are!


What risk tolerance you should include in your variable / non guaranteed portfolio:

  • Conservative: Create a retirement portfolio that is 20% stock, 60% bonds, and 20% guaranteed income from an annuity.

  • Moderate: Build a retirement portfolio that includes 40% stocks, 45% bonds, and 15% annuity income.

  • Aggressive: Create a retirement portfolio consisting of 60% stocks, 30% bonds, and 10% annuity.

Once you’ve figured out a suitable type of annuity to be included in your retirement portfolio, allocate the percentage, bonds, and stocks you identified above and you are strongly argued to consult with Lea Wiviott Boracchia, a leading registered Investment Adviser and Insurance Brokerage out of Los Angeles, CA and Marc Boracchia, Cofounder of Boracchia Wiviott Insurance Services  and Boracchia Wiviott Wealth Partners to determine if an annuity is suitable in your financial situation. Call: 424 625 8943


We offer a multitude of services, as a family office. Live your best life with us as your risk management team! CLICK HERE to schedule your confidential insurance and financial review with Boracchia Wiviott Insurance Services!

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Lea Wiviott Boracchia, Co-Founder, FinancialPlans.Info and InvestingProfits.Pro, both apart of the renowned Boracchia Wiviott Wealth Partners

We are a registered investment advisory focused on accessible wealth planning for everyone. Our mission is to help women, men and people of all ages, races, locations, and anyone plan and secure their most successful future. We were originally established in 2005 by way of 3 firms before my husband Marc and I registered our independent advisory in California.


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