In this independent review, the team at Retirement Think Tank goes over an upcoming retirement income product from BlackRock based on their popular CoRI retirement index.  To be honest, although we were very familiar with BlackRock and their great brand name in the financial and money management industry, we were not aware of their new retirement income product based on their CoRI index.  It was only after one of our followers sent us the article from Market Watch (click Market Watch BlackRock article to read it) that we discovered this intriguing product.

After reviewing the article and doing some other research, we came to a few conclusions about this retirement income product from BlackRock:

• To begin, it is not an annuity like many of our readers are used to hearing about that is issued from an insurance carrier
• It is however, a retirement income product that is aimed to create a lifetime income stream for baby boomers and retirees (similar to an annuity)
• The big difference is that the money (thus your income in retirement) is based on their proprietary CoRI index which invests mainly in Treasuries and high-quality corporate bonds

• Meaning, your lifetime income is based on an index and can be higher or lower than the projected value when you purchase it
• There are no early-withdrawal penalties like most annuities have which is a big plus
• This is essentially very safe mutual funds aimed to generate longer-term solid returns that keep pace (or beat) the income offered by immediate annuities
• The only negative is that it isnt contractually guaranteed like an annuity
• However, if BlackRock invests well, you could get more income than a traditional immediate annuity would provide

All in all, this appears to be a solid product for those retirees and baby boomers that dont mind taking a little risk to get a little more.  However, if it is a contractually guaranteed income that you need, you might want to look at traditional annuities.

BlackRock is a very solid company with one of the best names in the industry, so this is not some fly by night company that is offering something new.  But it is still important to know exactly what you own before you buy any kind of retirement income product.

This review is completely independent as we are in no way affiliated or represent BlackRock or any of its companies or affiliates.  This independent BlackRock CoRI review cannot and should not be construed as investment advice and it is not enough to make an educated decision on your retirement.  We do advice that you speak to a qualified retirement income specialist before making any decision on any retirement income products.

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