The stock market took a big dip the last week of February, with the Dow dropping 12% and the S&P 500 dropping 11%. This marks the stock market's worst weekly performance since the financial crisis of 2008 (CNBC).
According to Bloomberg, the world's 500 richest people lost a total of $444 billion as the coronavirus spread rattles the markets worldwide. Jeff Bezos lost nearly $12 billion and Bill Gates trailed closely with a loss of $10 billion.
When the stock market plummets and many panic at their hard-earned savings going down the tank, our annuity clients are sitting back and relaxing.
While $100,000 in the stock market lost $11,000-$12,000 last week, our annuity clients didn't lose a penny. In fact, if you had $100,000 in a MYGA contract, you would've gained around $70 last week.
Agents: fixed annuities – including fixed indexed annuities – are so incredibly important. They offer safety to our retired clients by ensuring their money is NOT subjected to the volatility of the stock market. Plus, those with a guaranteed rate are even gaining a bit on their money while everyone else is taking a huge hit.
And those who like to dabble a bit in the stock market with a fixed indexed annuity (FIA) – they're also doing well. They are assured that they can never lose on their investment – the worst they can do is stay the same.
It's times like these when our annuity clients appreciate what we do, and it's also the perfect time to tell your clients about the great annuity options for the senior market.
For a quick refresher, there are 3 types of fixed annuities (great options for seniors):
If annuities are new to you, please take some time to check out our training and educational pieces:
