Today, we talk all about annuities. Yet another powerful tool in your toolbox for taking control of your retirement, you can think of an annuity as a way to “buy” your own pension.
But it’s just that: a tool. Like any other financial vehicle, there are pros, cons, and tradeoffs to think about.
An annuity is a contract issued mostly from insurance companies that provides a guaranteed income stream. Mainly, annuities are used for retirement.
Some people look at annuities as the best thing since sliced bread. For others, annuities are a total time and money-sink to even consider. But for most folks, we’d wager the reality is somewhere in between.
Listen in as Stephanie and Kevin lay out the must-knows of the complicated topic of annuities, and suggest some questions to ask oneself when it comes to making use of a specific annuity for your retirement plan.
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