Smart Is The New Rich is the indispensable retirement guide to winning financially in the "New Normal." All-time low interest rates mixed with all-time high stock markets have put retired investors and those near retirement into the cross hairs of history. Experts agree: The markets can rise, but something has to give at some point. Where will you be when the music stops? In retirement, there are no "do overs." Smart Is The New Rich reveals your risks, considers the alternatives, and helps zero in on practical solutions.
Published by: IQ Wealth Press
Date published: 03/29/2013
Edition: 1st
ISBN: 098905389X
Available in Paperback
IQ Wealth Management
Financial Advisor
Steve Jurich, Retirement Coach, Wealth Manager, and Founder of IQ Wealth Management, speaks more like a favorite professor than an insurance agent, or even a retirement adviser. Unlike the breed of annuity agents who use pressure tactics and tired lures like “free steak dinners” to gain captive audiences, Jurich’s priority is creating more informed consumers. He takes time to make sure his clients understand the range of options available to retirees so they become better educated investors on the whole. That investment of time is a significant one for Jurich (pronounced “Jur-itch”), but he believes the results his clients see in their portfolios speak for themselves. It’s been said that “knowledge is power,” and when that knowledge is applied wisely, Jurich believes it can lead to a desirable destination: lasting wealth. Besides his role as a Wealth Manager (, Jurich is a leading expert on Hybrid Index Annuities and Index Universal Life Insurance ( . He is the Editor-in-Chief of, and host of the popular radio show, Journey to Wealth, on Money Radio. His company, LYON Pension Group, specializes in defined benefits and profit sharing plans for business.
7702 E Doubletree Ranch Road, Suite 300
Scottsdale, AZ
United States
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480-902-3333 is a privately owned website published by IQ Wealth Management, an accredited member of the Better Business Burueau with an A + rating. Owner and founder Steve Jurich is a Certified Income Specialist™ who has been counseling retirees since 1994.
7702 E Doubletree Ranch Road, Suite 300
United States
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Prudential Annuities

Prudential Annuities, managed by Prudential Financial, Inc. (NYSE:PRU), announced August 20, 2012 the launch of Highest Daily Lifetime Income 2.0, which replaces all previous models of the highest daily lock feature on the income rider attached to Prudential variable annuities. This announcement signals the further decline in variable annuity benefits for new consumers. The new version effectively lowers payout rates and income guarantees. As has been reported on, a leading annuity website, the economic downturn has forced variable annuity insurance companies to cut back sharply on their offerings in response to market conditions. Many variable annuity carriers have exited the business or considering leaving the business including Sun Life, the Hartford and John Hancock.

The Prudential Annuities Highest Daily Lock In has been one of the most popular of the variable annuities offering unique twists on income riders, arriving on the scene in 2006. These are variable annuities which place the risk of principal on the owner. The lock in feature applies only to income, not to lump sum principal. Fixed and hybrid annuities take the risk from the owner and transfer it to a legal reserve life insurance company. Variable annuity owners do not enjoy protection of principal. The long secular bear environment that has dominated the markets has caused many variable annuity assumptions to be turned upside down. This has caused variable annuity carriers to drop many of the features they once offered.

With the announcement by Prudential annuities to eliminate the 5% guarantee that went along with the lock in feature, the annuity owner must now understand that the benefits have been diluted. In the past, the Prudential rider offered a highest daily lock in or 5% guarantee whichever is higher. Now, the 5% guarantee is gone on new contracts. Prudential is doing the responsible thing by making this suspension, however, the annuity consumer, may do much better with a hybrid annuity., depending on his or her goals.

The remarkable success of fixed index annuities in the early and mid 2000’s no doubt inspired the creative versions of income riders on variable annuities, including the Prudential annuities Highest Daily Lock In. Index annuities combined safety of principal along with a share of the market’s upside. Variable annuities on the other hand are very expensive to operate for an insurance carrier in an era of poor markets and low interest rates, which the global and U.S.economies have found themselves in for years. The Prudential annuities Highest Daily Lock in payouts have now been reduced as follows: – Ages 50-54: 3 percent withdrawal rate, Ages 55-64: 4 percent withdrawal rate, Ages 65-84: 5 percent withdrawal rate (not interest rate, withdrawal rate) and Age 85+: 6 percent. Spousal versions are 50 basis points lower for all age bands. Variable annuities are long-term investment vehicles designed for retirement purposes and contain underlying investment portfolios that are subject to investment risk, including possible loss of principal. Before making any decision to switch to another annuity, you should consider annual maintenance fees, surrender charges, death benefits, and the financial strength of the insurance carriers.

At, our research team can provide higher withdrawal rates issued by top level insurance companies. We have found that consumers are confused about the Prudential annuities Highest Daily Lock In. They think it is an index annuity, with safety of principal, however it is not. They have learned the hard way at times that the Prudential annuities Highest Daily Lock In feature does not actually protect any of the owner’s principal. The lock in mechanism is there strictly as a way to measure future lifetime income benefits. With recent reduction in variable annuity payouts, Hybrid annuities can now pay more to the consumer in the way of guaranteed lifetime income. This is a very relevant and compelling reason for the retiring baby boomer to explore hybrid index annuities. The most important reason is to preserve principal. No annuity should ever be taken out to get rich. Annuities were invented to keep the owner from going poor and to actually feel more wealthy because of steady income. Annuities replace the pension that most Americans no longer have. And now that variable annuity benefits have fallen, fixed index annuities, known as equity index annuities and hybrid annuities (all one and the same) may provide the missing link in a smart retiree’s financial plan. The research team and licensed agents at are well positioned to help with rollovers of 401ks, IRAs, and 403b plans into high quality hybrid index annuities.


Retirement Kit

Make the most of your IRA, 401k, 403b or Defined Benefit Rollover

  • Protect your principal
  • Receive 8% to 12% Bonus Match
  • Grow income 5% to 9%
  • Lock in a lifetime income that can never be outlived
  • Benefit from market's upside with no downside losses
Steve Jurich Book

What people are saying about SMART IS THE NEW RICH,

an Amazon Best Seller in 3 categories
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Must read

I'm a Certified Financial Adviser and if I didn't run my own company I would join this guys'. Seriously, it's a must read in today's new financial reality in fact….I'm handing these books out to many of my clients for free, it's THAT important! Thanks Steve, I hope to meet you in person one of these days.
Yuerg E.

Yuerg Eichmann March 17, 2016

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Must read for retirement planning

"Smart Is The New Rich" is a great overview of the many facets of retirement planning. It has changed my thinking about how much capital I have versus how much income I will have in retirement. The book provides easy to understand, side by side comparisons of risks and growth of hypothetical investments in Hybrid Fixed Indexed Annuities and the securities market. A good read and great reference for retirement planning for all age groups!

William Thomas March 17, 2016

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Straight talk about retirement strategies

The SMART thing to do is buy this book, read it, tell your friends, and keep it handy for future reference. It is an easy read, interesting, clearly written, and full of valuable information. "Smart is the New Rich" gives a practical, no-nonsense approach to the "de-accumulation phase" of investing, and is helping me sort out my retirement plan. Of particular interest is the clarification of the strengths and weaknesses of the various types of annuities. Although the charts and graphs are a bit small in the book, the Kindle version allows expansion of the text and therefore easy to read. If you are nearing retirement, and seeking a reliable and sustainable income for a lifetime, I highly recommend you read this book!!!

Carol March 17, 2016