Retirement education, in plain English
10 articles, 2 videos
Who I Am
I'm Eric Lenhardt, a licensed insurance agent here in Washington, and Granite Point Retirement is my company. Before you take the checkup on this site, you deserve to know who's on the other end of it.What the 30-Minute Review Actually Is
What the 30-minute review really is, and what it isn't. It's a phone call you book on my calendar: a conversation, not a pitch. You ask me anything, including how I get paid, and the call itself costs nothing.
How the "floor of zero" works — and what it costs you
In a fixed indexed annuity, the "floor of zero" means this: in a year the market index falls, your account is credited 0% interest; the index loss does not come out of your account value. The cost of that floor is the other half of the deal: in years the index rises, you receive only part of the gain.Read moreWho fixed indexed annuities are NOT for
Fixed indexed annuities are the wrong choice for a lot of people, including some of the people they get pitched to hardest.Read moreHow the agent gets paid, asked and answered
If you buy a fixed indexed annuity through me, or any licensed agent, the insurance company pays the agent a commission.Read moreHow to check any insurance carrier's financial strength
A fixed indexed annuity's protections (the floor of zero, the credited interest, the income rider if you choose one) all depend on the insurance company's ability to pay its claims for decades.Read moreMoving 401(k) or IRA money without a tax bill: rollovers in plain English
Retirement money can move from a 401(k) or IRA into another retirement account (including an annuity held inside an IRA) without creating a tax bill today.Read moreThe CD comparison worth running before renewal
A bank CD pays a fixed rate you know upfront, for a term usually measured in months to a few years, with FDIC backing within its limits.Read moreThe three questions that separate the pros from the pitches
Before you sign anything annuity-shaped, ask the person selling it three questions: How does the floor actually work? What limits my growth?Read moreRoth conversions in plain English
A Roth conversion moves money from a tax-deferred account (a traditional IRA or an old 401(k)) into a Roth IRA.Read moreRMDs, explained: why age 73 changes your tax picture
A required minimum distribution, or RMD, is the smallest amount the IRS requires you to withdraw from tax-deferred retirement accounts each year, starting at age 73.Read moreThe 10-year rule: what happens to the IRA you leave your kids
Under the SECURE Act, most non-spouse heirs (adult children especially) must empty an inherited IRA within 10 years of the owner's death.Read more