Annuities, part two. Let's talk about basic income annuities and the payout options you can

choose for income annuities in this, the 21st episode of the Retirement Planning Education

podcast. Welcome to the Retirement Planning Education Podcast, where you can learn all

about IRAs and Roth IRAs, employer retirement plans, taxes, social security, Medicare, portfolio withdrawal strategies, annuities, estate planning, and much more.

And now here's your host, Andy Panko.

All righty, welcome back, everyone.

Welcome to part two of all about annuities.

And this week I'll be discussing basic income

annuities and the different payout options you can choose when you do quote unquote

annuitize an annuity or turn a lump sum of money into a irrevocable lifetime stream of guaranteed

income. So just to recap, last week, episode 20 was part one of this

three-part series on annuities, where in part one I talked about intro, common denominators,

some other general thoughts and things to keep in mind about annuities as a whole. And as I discussed

last time, there's all different sorts of annuities. So it's unfair to say they're all good, they're all bad, because there are drastic differences amongst annuities. You know, common denominators were there contracts issued by an insurance company and the interest that you earn is deferred such that the taxability of it. You're not taxed until you eventually take money out of the contract. That's really it

for the sort of common denominators amongst the different flavors of annuity. And also last week,

I talked about miga's multi-year guaranteed annuities. Those are the things that are functionally

like certificates of deposit. Basically, you put money in, guarantee to lock it up for a few years.

You'll get a guaranteed rate of interest over that time. At the end of the few year contract,

you get back all your initial money plus a guaranteed interest. That's it. It's that simple. It's over.

Next week, part three, episode 22, will be all about, that'll be fun. It'll be all about variable annuities, fixed index

annuities, and I'll also talk about withdrawal riders, because those riders are commonly

attached to variable and indexed annuities. But I'll leave that for next week. That's a whole

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