Month: July 2018

An impartial review of the Allianz 222 Annuity – updated August 2021

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Editor's Note: This post was originally published in May 2014 and has been updated for freshness, accuracy, and comprehensiveness.

Through September 17, 2018, the premium bonus has increased from 22% to 30%. Read more in my latest blog post “What is the Allianz 222's extra premium bonus worth?”

The annuity business has grown in popularity as investors, especially those nearing retirement, look for options to protect themselves from stock market volatility and give them a decent income stream in retirement. With over $200 billion in annual sales, the annuity industry is big business with lots of salesmen trying to persuade you to make a purchase.

Today I will dig deep into the Allianz 222 Annuity which was launched in January of 2013 and was one of the best-selling indexed annuities in the industry for the 4th quarter of 2013. Sales of indexed annuities, a fixed annuity that provides a minimum guaranteed rate of interest combined with an interest rate tied to the movement of an index, increased to $39.3 billion in 2013, a 17% gain year over year. This is the biggest percentage increase of any form of annuity.

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What is the Allianz 222’s extra premium bonus worth?

The Allianz 222 annuity has been one of the best-selling index annuities for several years now as I wrote my first review of the product in May 2014. For two months through September 17th, they have increased the premium bonus from 22% to 30% (25% in NJ and OR) which gives the protected income value a nice espresso shot from day 1. Because this is being sold by agents extra hard, I have received several calls from people looking for advice. Given that many seem confused as to how the bonus works, and no it doesn't give a boost to your account value, I thought it would be a good idea to have a stand alone blog post for this topic. So let's take a look at how it works, I will walk you through some of the numbers so you know what you are buying before signing on that dotted line.

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Personal Finance Podcasters And Their Favorite Episodes

There are over 500,000 podcasts according to Apple Podcasts which means that if you can think of a topic, there's a good chance that there's a podcast about it. You can get super “meta,” for example, there are niche podcasts that talk about niches. Or if old songs strike your fancy, you might check out Centennial Songs / The Antique Phonograph Music Program.

When it comes to personal finance and money, there are a variety of shows that address different topics. Rather than publish the usual “best of” list that you can already find elsewhere on the internet, we asked personal finance podcast hosts what episodes are their most popular and favorites. Read on, give a listen, and if any resonate with you, please leave a comment below to share your thoughts.

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Is your bank still paying you nothing on your savings?

The Fed has been raising interest rates off its emergency levels for the past year and that should be good news for savers who can finally earn a risk free return. However, if you aren't savvy, then your large bank may still be “stealing” your interest by not paying you market rates. Do you know what your financial institution is paying on your savings account? If the answer is no, then you should check their website or your latest bank statement. Here is the ugly truth, Chase and Wells Fargo still are paying just 0.01% on savings accounts. That is robbery as they are pocketing your interest and dropping it into their profits which are in the billions. With money movement a simple mouse click away, you shouldn't allow the big banks to steal your interest.

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