Interest rates, coat drive and a great hike
Annuity Companies Are Good at Rate Predictions
Every month annuity companies send me their updated interest rates for Multi-Year Guaranteed Annuities (MYGA). I have found annuity companies to be a fair predictor for the future direction of interest rates. Over the past few months interest rates on short term annuities have increased. Deposits of $20,000 to $99,999 are now at 5.75% and deposits over $100,000 are at 6.10% with Midland National for a 5-year guarantee period.
Multi-Year Guarantee Annuities allow the account holder to defer tax on the interest until the end of the term. This may be favorable to a working individual who plans on retiring into a lower tax bracket. For those interested in conservative growth a multi-year guaranteed annuity can provide, we recommend verifying the issuing company is in a strong financial position. We also like products that allow for percentage free withdrawal after the first year for account holders looking to take the interest as it is produced. Companies update their rates for new issues frequently. Your advisor can help you shop for available interest rates. If you're interested in hearing more, don't hesitate to reach out.
Santa Sighting
Don’t forget that Santa is coming to our Ashland office at 19 W. Main St. for pictures with the family, kids and pets! As you can imagine Santa is in high demand, but luckily Macy knows someone who is a friend of Mrs. Clause’s hair stylist. There will be hot chocolate, coffee and light refreshments. We hope to see you on November 7th between 10:00 AM and 12:00 PM.
We are also in the midst of Crosby Advisory Group’s first coat drive. If you or a family member has a gently used coat that you no longer wear, we are graciously accepting donations through November 7th. Crosby Advisory Group will distribute your coat donations to Associated Charities in Ashland to assist community members in need.
Great Hike in Southwest Ohio
My wife and I recently visited our daughter for Parent’s Weekend at her college and the three of us went hiking at John Bryan State Park. It has over 11 miles of trails and 12 miles of mountain bike trails that meander through ravines, across the Little Miami River and beautiful rock formations. We had a great time and I highly recommend it for a fall hike. My daughter’s favorite part of the weekend was getting to see her dog after weeks from being separated. I think that was Stormi’s favorite part as well.
Intermediate and Long-Term Bond Prices Fall and Derek Explains Why
In a recent blog post on our website, Derek Ballinger, Crosby Advisory Group’s portfolio manager and Chartered Financial Analyst (CFA®) charterholder explains why longer term bonds are struggling to find ground with recent interest rate changes.
You can read about it here.
Disclaimer: Crosby Advisory Group, LLC is a registered investment advisor. This newsletter is for general knowledge and is not intended to be individual investment advice. Investing involves risk including potential for loss. Understand all risk and fees before investing. NMD Insurance is affiliated with Crosby Advisory Group, LLC.
