Several years ago I trademarked the now popular Annuity Report Card. After spending a few decades meeting with thousands of individuals who already owned annuities who, when quizzed, couldn't tell me some of the most basic details of what they owned I felt if was time to do something about it.
The Annuity Report Card is simply an learning and evaluation tool that we provide of anyone who owns an existing annuity contract who seeks clarity and complete disclosure in a easy to read, consolidated format. This tool outlines all of the details that an owner of an annuity should know prior to purchasing, but in some cases either their memory has gotten the best of them, they didn't fully understand what was discussed or in some cases parts of the conversation they had with the salesperson was not as clear as it should have been. Whatever the reason, this tool will educate the investor completely on all of the details, positive and negative as well as the benefits and limitations of their existing contract. We then take this as step further and compare their annuity to what we feel is the best performing contract in their category, a comp if you will, to visually show the client how their annuity stacks up. After this complimentary evaluation, the annuity owner will at the very least leave my office having a complete understanding of what they own and either confident that their contract is the best available in today's market, or that they didn't fully understand what they owned and that they could probably have done better with a little more knowledge.
The Barnowski Financial Group is looking to bring a little more transparency and confidence to annuity holders nationwide.
There are so many confusing terms when it comes to these products and let's face it, most of our potential clients don't understand the terminology or the know the questions to ask. I understand that this ad was a "hook" to entice people to inquire, and I'm sure that the folks behind this ad as one twitter responder said are "Good agents will take the time to educate potential clients about the terminology and features"... but at the same time, some do not. I run across plenty of people who own annuity contract who think that their "income rider" "cap" or "death benefit roll-up" is their rate of return on their money.
So I'm using this as an opportunity to educate and inform consumers with regards to this terminology. Please also view my videos titled "Debunking the Myths of Annuities" and "How to avoid the Sales Pitch". These short videos were produced to arm you with the questions you should be asking any advisor you speak with and will make you a more confident consumer.
As always, the Barnowski Financial Group is here to help you Plan Smart, Retire Right, Sleep Well!
In the most recent edition of Boomer 365, Carl Barnowski CEO Barnowski FInancial Group was highlighted for his work motivating our baby boomer community. In the article Carl describes how his work at the Barnowski Financial Group goes well beyond retirement income planning and wealth transfer planning for his clients. At his nationally recognized firm, securing retirement income for life is only part of the equation to a satisfying retirement.
The Barnowski Financial Group promotes the four “Biggies” during retirement that we know make our aging retiree’s happy. Our expertise is obviously falls into category 4, Sustainable Income for Life. If you think about it though, they are all related from the standpoint that without one… you probably don’t have one are a few of the others.1. Good Health – Let’s face it… if you don’t have your health, you don’t have much. Without Good Health, you probably don’t have mobility.
2. Mobility – Mobility can mean the ability to drive, or just get out and take a walk. Without Mobility, you more than likely lose your ability to Socialize.
3. Socialization – Socialization is important for our mental health, physical stimulation as well as keeping our brain active and engaged.
4. Sustainable Income for Life – Knowing… not guessing that your money will last you your entire lifetime brings not only stress relief, but also allows you to afford the best healthcare available with keeps you healthy, which keeps you mobile and social.
"Just because my clients are retired or heading in that direction, I'm seeing that most still have items on their to-do list that have been put on a shelf while they were working or caring for their children. After ensuring that their finances are in order, it's my job to motivate and empower my clients to get out there and pursue those passions that still burn in their hearts no matter what they are" says Carl Barnowski. Nothing gives me more pleasure than to take on a new client, get their retirement income and assets secured and then comes the fun part. Blowing the dust off those dreams and goals and handing over a bright blue T-Shirt that says "#letsdothis"
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Carl Barnowski, CEO Barnowski Financial Group is passionate about inspiring others. Recently featured in The Hinterland Gazette Daily, this spotlight reveals Carl's inspirational notes and thoughts meant for his baby boomer clients. There are four themes that the Barnowski Financial Groups thinks are paramount for a well rounded retirement experience and they revolve around Health, Mobility, Socialization and Guaranteed income for life. If you think about it, without enough income you must go without quality healthcare which leads to a more rapid decline and the next item which is loss of mobility. Whether that means losing your ability to drive an automobile or simply get outside and talk a walk, if you are not able to do these simple things, you also might lose your ability to socialize which has been proven to lengthen lifespans. This feature article is all about encouraging and inspiring boomers to get out there and start knocking some of those items off that to-do and wish list that may have been on their for years. Could be anything from pursuing a new hobby, taking up a new sports activity or to start visiting some travel destinations that you have always wanted to experience. The Barnowski Financial Group exists to assist our clients to Plan Smart... Retire Right... Sleep Well!
Carl Barnowski, CEO Barnowski FInancial Group was featured in the Irma Givens Daily this week. His feature was a recent blog post on what the Barnowski FInancial Group is doing to change the image of the financial services industry and making it a more transparent and consumer oriented environment. The article goes on to describe the business practice of video taping client interviews and storing them in a cloud file for the adviser as well as the client to reference at a later date. This practice is also a convenient way to share information with family or loved ones who are assisting the client in making financial decisions but were unable to attend the meeting or live out of town.
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