BONUS call: Annuities
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 21 November 2017
⏱️ 7 minutes
🧾️ Download transcript
Summary
Today on the BONUS call we're discussing my favorite topic of annuities with Roland who has a sneaking suspicion that his financial advisor may not be steering him in the right direction. Have a finance question? We want to hear from you! Email us at askjill@betteroffpodcast.com and we'll arrange to get you on. Don't forget, a brand new episode of the Better Off podcast comes out Thursday so stay tuned for more listener questions plus an informative interview. Better Off is sponsored by Betterment. Please let us know what you think by leaving a rating or review in iTunes. Connect with me at these places for all my content: http://www.jillonmoney.com/ https://twitter.com/jillonmoney https://www.facebook.com/JillonMoney https://www.instagram.com/jillonmoney/ https://www.youtube.com/c/JillSchlesinger https://www.linkedin.com/in/jillonmoney/ https://soundcloud.com/jill-schlesinger http://www.stitcher.com/podcast/jill-on-money http://betteroffpodcast.com/ https://itunes.apple.com/us/podcast/better-off-jill-schlesinger/id431167790?mt=2
Transcript
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| 0:00.0 | Welcome to the Better Off Bonus Call of the Week. |
| 0:05.8 | We're sponsored by Betterment, the largest independent online financial advisor. |
| 0:10.0 | I'm Jill Schlesinger, your host. |
| 0:12.0 | And if you've got a financial question, |
| 0:14.1 | I mean, it could be something complex that is arising in your life. |
| 0:17.8 | It could be the decision of which job to take |
| 0:21.0 | or how to manage your taxes or your investing. We want to hear from you. |
| 0:25.1 | Our email address, Ask Jill at betteroff podcast.com. Ask Jill at better off |
| 0:30.8 | podcast.com. Today we've got Roland on the line. Hello Roland |
| 0:35.0 | welcome to Better Off. What can we do for you? I have a purchase a |
| 0:39.6 | annuity, a variable annuity in 2008. |
| 0:43.0 | And it didn't do very well. |
| 0:45.0 | Right now, the value is like 220. |
| 0:48.0 | Original was 200. |
| 0:50.0 | Yeah. |
| 0:51.0 | And my financial advisor is now telling me rather than take the annuity, |
| 0:56.4 | neutize it, which is about 15,000 a year, that I should withdraw it and put it in a rapid cap that he would match. |
| 1:06.2 | Oh yeah because he hasn't made enough fees on this already. |
| 1:10.5 | Yeah, so I was thinking if I left it in I would still be paying three about three percent |
| 1:18.0 | and it's the worst I know and they have a fixed investment of 3% where I pay no fees no |
| 1:29.4 | so I was thinking of putting it at a 3% investment and collecting the annuity. |
| 1:35.6 | Nothing in my financial situation has changed since I open an annuity. |
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