Webinar for RIAs to discuss annuities, retirement planning

investmentnews.com:

If you’re in the middle of retirement planning, one of the risks you may want to consider is longevity. It’s a unique factor. It impacts everyone, it is impossible to forecast, and it changes over time with improvements in medical science.

It’s also going to be a major topic covered at the RIA LABS webinar, Fee-Based Insurance & Annuities, taking place on Thursday.

At the webinar, which is sponsored by Jackson, and co-sponsored by Allianz and Corebridge Financial, experts from various firms will be talking about retirement planning and fee-based annuities.

Chuck Failla, founder and CEO of Sovereign Financial Group and moderator for the panel, said he sees lots of people outliving their money.

“The good news is you’re living longer,” Failla said. “The bad news is you’re living longer, at least from the perspective of your finances. If you’re not doing your own retirement planning, you’re probably not going to have the kind of retirement lifestyle you’re going to want.”

Failla adds planning for longevity as early as possible will benefit in the long run.

“You don’t want to come to that conclusion in the 14^th year and you’re like, ‘Wow, I feel pretty good, but I only have a year’s worth of income left,’” he said. “You don’t want to forecast that well into retirement. Ideally, you want to forecast that well before retirement or when you’re in retirement.”

Experts will also be discussing the evolution offee-based annuities, which have gained an unfair reputation in recent years.

“One of the reasons for that is they were really expensive and one of the reasons is because [advisors] were banking in on 5%, 8% or 10% commissions,” Failla added. “If you have that much of a commission, yeah, that that’s going to be an expensive