BSMG Blog: Protecting the Future of Families and Businesses

NAIC New Best Interest Standard for AL, AZ, AR, DE, IA, ID, ME, MI, MT, NE, ND, OH, RI, TX, & VA

Arizona, Arkansas, & Iowa Regulation:

Agents who have already completed a four-hour NAIC training course prior to January 1, 2021, must complete one of the following by July 1, 2021:

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Optimizing Required Minimum Distributions

Required Minimum Distributions (RMD) are always a hot button with brokers and clients, especially recently when Donald Trump asked the Treasury Department to examine RMD life expectancy and distribution tables due to longer life expectancy and more people working well into their 70’s. Nevertheless, RMDs “are what they are”, a required distribution that every individual who turns 70.5 must start taking from their IRAs. At its simplest level, an RMD will be withdrawn and either deposited into a client’s checking account or reinvested. Let’s look at other ways to utilize an RMD.

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Tax Advantages of Annuities

We all balk at the many get rich quick schemes clients may be exposed to today. However, have you ever stopped to think about whether their current investment strategy is driving them to slowly go broke?

By the time taxes and inflation eat into your client's already modest gains made on a bank savings account, money market, or CD, their purchasing power is dwindling, ever so slowly. So slowly, in fact, that it's almost imperceptible. 

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