I’m 68, single and retired. I started claiming Social Security at 65 and my house is paid off completely. I have two fixed annuities: one for $300,000 at 5.5%, due to mature in 2026, and one for $100,000 at 4.5%, due to mature in 2028. RMDs are looming in five years when I will be 73. I don't need the money as I have CDs, stocks and savings. What advice can you give me regarding the two annuities to minimize taxes and ways to possibly reinvest the money. Thank you for your help in this matter and keep up th ...

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Financial Data and Key Metrics Changes - F&G reported adjusted net earnings of $165 million, or $1.22 per share, in the third quarter, with alternative investment income at $67 million, or $0.48 per share, below management's long-term expected return [14][15] - Adjusted return on assets (ROA) on a last 12-month basis was 92 basis points, stable compared to the previous year and sequential quarters [16] - Adjusted return on equity (ROE), excluding AOCI, was 8.8%, consistent with the sequential quarter [17] Business Line Data and Key Metrics Changes - F&G achieved record assets under management (AUM) of $71.4 billion before Flow Reinsurance, a 14% increase year-over-year [5] - Gross sales for the third quarter reached $4.2 billion, with core sales at $2.2 billion, slightly above previous quarters [6] - Indexed annuities contributed $1.7 billion in sales for the quarter, while Pension Risk Transfer (PRT) sales exceeded $500 million [7][8] Market Data and Key Metrics Changes - The company reported strong demand for retirement savings products, particularly fixed annuities, driven by demographic trends and macroeconomic volatility [10] - The investment portfolio remains diversified and high quality, with 96% of fixed maturities being investment grade [11] Company Strategy and Development Direction - F&G is transitioning to a more fee-based, higher margin, and capital-light business model, leveraging its position as a leading distributor of annuities and life insurance [20] - The company aims to grow AUM by 50% and expand adjusted ROA to 133 to 155 basis points by 2026 [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver strong returns and achieve long-term shareholder value [13][62] - The competitive landscape remains active, particularly in the PRT market, with expectations for continued momentum [48] Other Important Information - F&F, the majority owner, plans to distribute approximately 12% of F&G's outstanding shares to its shareholders, increasing F&G's public float from 18% to 30% [24] Q&A Session Summary Question: Capital allocation priorities amidst stock pressure - Management emphasized the focus on growing the fixed index annuity business and owned distribution, with share buybacks being a low priority due to the upcoming share distribution [26][28] Question: Variable investment income expectations - Management indicated that variable investment income is expected to fluctuate, with a near-term run rate in the high single digits [30] Question: Exposure to private letter-rated assets - Management reassured that their portfolio is well-positioned and comfortable, with minimal exposure to private credit concerns [32] Question: Alternatives performance breakdown - Management noted that alternative investments had mixed performance, with LPs performing better than direct lending [35] Question: Operating leverage and expense management - Management expects continued improvement in the operating expense ratio, aiming to reduce it from 60 to 50 basis points by year-end 2025 [56] Question: Comments on F&F's share distribution - Management viewed the increase in free float as a positive development, enhancing institutional ownership and confidence in F&G's future [59]

Financial Performance - Jackson Financial Inc reported GAAP earnings of $65 million, or $092 per diluted common share[8, 9] - Adjusted Operating Earnings were $433 million, or $616 per diluted common share[9] - The company returned $210 million of capital to common shareholders through dividends and repurchases[9] - Free cash flow was $216 million, representing cash distributed to JFI net of JFI expenses[10] Capital and Liquidity - Jackson National Life Insurance Company (JNL) estimated risk-based capital (RBC) ratio was 579%[9] - Holding company cash and highly liquid securities exceeded $750 million[14] - After-Tax Statutory Capital Generation was $579 million[51] Sales and Business Segments - Retail annuity sales increased by 22% compared to the second quarter of 2025[11] - Record RILA sales reached $21 billion, a 49% increase from the second quarter of 2025 and a 28% increase from the third quarter of 2024[31] - PPM America's assets under management (AUM) increased by 18% compared to the third quarter of 2024[31]

Core Insights - Prudential Financial Inc. (PRU) is anticipated to show an improvement in revenues but a decline in earnings for Q3 2025, with results expected on October 29 [1] Revenue and Earnings Estimates - The Zacks Consensus Estimate for PRU's Q3 revenues is $13.98 billion, reflecting a 28.2% decrease from the previous year [2] - The consensus estimate for earnings is $3.60 per share, indicating a year-over-year increase of 3.4% [2] - The earnings estimate has increased by 0.8% over the past 30 days [2] Earnings Prediction Model - The model indicates a likely earnings beat for PRU, supported by a positive Earnings ESP of +0.52% and a Zacks Rank of 3 (Hold) [3][4] Factors Influencing Q3 Results - The U.S. business is expected to benefit from improved underwriting results in Individual Life, Group Insurance, and Institutional Retirement Strategies, although this may be offset by lower fee income from traditional variable annuities [5] - International operations are likely to see gains from higher underwriting results and net investment spreads, but increased expenses may counteract these benefits [6] - The Individual Retirement Strategies segment is projected to benefit from higher net investment income, driven by growth in indexed variable and fixed annuities, despite lower asset management fees [7] Investment Income and Expenses - Assets under management are expected to rise due to market appreciation and strong investment performance, with net investment income projected to increase by 0.7% to $4.5 billion [8][10] - Total expenses are anticipated to rise to $12.5 billion, influenced by higher policyholder benefits and amortization of deferred policy acquisition costs [9] Summary of U.S. and International Operations - PRU's U.S. units are likely to gain from improved underwriting across key insurance lines, while international operations are expected to benefit from higher underwriting and investment spreads [10]

Market Trends & Investment Strategies - The Federal Reserve is shifting towards lower interest rates, presenting a challenge for investors to maximize cash returns [1] - Investors are exploring investments that can thrive in a declining interest rate environment [1] - The discussion covers strategies for reinvesting cash in response to potentially diminishing returns from traditional savings vehicles [1] Investment Options - Potential reinvestment options are being explored, including mutual funds, ETFs, and separately managed accounts [1] - The report references CDs, short-term bonds, fixed annuities, and money market funds as cash investment options [1] - Stock performance, international stocks, and small-cap stocks are discussed as potential investment avenues [1] Portfolio Allocation - The report mentions 60/40 and 70/30 portfolios, suggesting a discussion around asset allocation strategies [1] Resources & Disclaimer - Fidelity provides resources for researching rates, including CUSIP numbers, bond yields, and CDs via a bond search tool [1] - The webcast is for educational purposes only and should not be considered investment advice [1]

Core Insights - Yields on the $7 trillion in money market funds are expected to decrease as the Federal Reserve is anticipated to cut its benchmark interest rate soon [1][2] - Advisors are rethinking strategies due to the potential for reinvestment risk as fixed-income markets are pricing in a Federal Funds rate that is a full percentage point lower than the current range of 4.25% to 4.50% [2][3] - High-quality fixed-income yields are historically attractive, with current yields close to 4.5%, placing them in the 70th percentile historically [5] Investment Strategies - Advisors are discussing various fixed-income options with clients, including certificates of deposit and corporate bonds [4] - Some advisors are waiting for the first Fed rate cut before making new investment positions, indicating caution due to previous market miscalculations regarding rate cuts [6] - Conservative investment strategies include building CD ladders and focusing on high-quality, short to intermediate duration bonds [6][7] Market Conditions - The effective Fed Funds rate is currently at 4.33%, and once cuts begin, they are expected to quickly impact short-term rates [3] - Advisors are utilizing ETFs for liquidity and to manage credit risks, focusing on high-quality options such as Vanguard Short-Term Treasury Index ETF and Vanguard Intermediate Corporate Bond Index ETF [7]

Financial Highlights - Cincinnati Financial Corporation reported a net loss of $90 million, or $0.57 per share, for the first quarter of 2025, a significant decline from a net income of $755 million, or $4.78 per share, in the same period of 2024 [1][3] - Total revenues decreased to $2.566 billion in Q1 2025 from $2.935 billion in Q1 2024, reflecting a 13% decline [1][3] - The company experienced a 13% increase in earned premiums, totaling $2.344 billion in Q1 2025 compared to $2.071 billion in Q1 2024 [1][3] Investment and Balance Sheet Highlights - Investment income, net of expenses, rose by 14% to $280 million in Q1 2025 from $245 million in Q1 2024 [1][3] - The book value per share increased to $87.78 as of March 31, 2025, up from $80.83 a year earlier, representing a 9% increase [1][3] - Total investments reached $28.481 billion as of March 31, 2025, a slight increase from $28.378 billion at year-end 2024 [25] Insurance Operations Highlights - The property casualty combined ratio for Q1 2025 was 113.3%, up from 93.6% in Q1 2024, indicating increased losses from catastrophes [4][10] - Net written premiums in the property casualty segment grew by 11% to $2.495 billion in Q1 2025, driven by price increases and higher insured exposures [4][12] - The life insurance subsidiary reported a net income of $21 million in Q1 2025, an increase of 11% compared to $19 million in Q1 2024 [19] Catastrophe Losses and Underwriting Performance - Catastrophe losses accounted for 25 points of the combined ratio in Q1 2025, significantly higher than the 10-year average [7] - The underwriting profit for the property casualty segment was a loss of $298 million in Q1 2025, compared to a profit of $131 million in Q1 2024 [10] - The company recorded a 49% increase in loss and loss expenses in the property casualty segment, totaling $1.887 billion in Q1 2025 [10] New Business and Premium Growth - New business written premiums in the property casualty segment increased by 11% to $383 million in Q1 2025 [4][12] - The life insurance segment saw a 1% growth in earned premiums, totaling $80 million in Q1 2025 [19] - The company appointed 137 new agencies in the first three months of 2025, contributing to premium growth initiatives [12]