Oct 20, 2015
Let's put our work boots on today and dig into some of the science of financial planning. We've been doing a lot of fluffy, motivational-type stuff on Radical Personal Finance recently. That stuff is really valuable but it needs to be tempered with some serious knowledge.
Today, let's talk about annuities.
Annuities get a bad rap in the financial marketplace. And rightly so. They've been shamefully misrepresented, oversold, and abused by many insurance agents.
But do they have a place? Can they be an incredibly useful tool in the toolbelt of a good financial planner?
I believe so.
In today's show I work to share with you some background and structure about annuities. This will help you to understand the words involved and the different product structures available.
We talk about:
- The number of lives covered (single life vs joint life vs joint-and-survivor annuities)
- When the payments start (immediate vs. deferred)
- Methods of premium payment (lump sums vs. periodic payments)
- Pure/straight life vs. refund annuities
- Fixed vs. variable vs. indexed annuities
- And tons more!
Enjoy the show!
Joshua
- You Need A Budget! Use the same software that I use: http://radicalpersonalfinance.com/YNAB
- Need a Financial Advisor? Start here: http://radicalpersonalfinance.com/paladin
- Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron