Ep 133: Is An Annuity Right For You?

HerMoney with Jean Chatzky

Jean Chatzky Her Money

Investing, Business

4.7 • 1.5K Ratings

🗓️ 31 October 2018

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

We (and by we, we mean the entire personal finance community) talk a lot about saving for retirement, but not enough about how to make our money last as long as we're going to. So we're going to change that. One possible solution for better guaranteeing income in retirement: annuities. One woman who's making annuities sound much sexier than they are: Elaine Larsen. At speeds of over 280 mph, Elaine has made a career out of going as fast as possible for five seconds down a straight and narrow quarter-mile track as hot-rod race car driver. However, after a major wreck in 2011, she realized she wasn’t invincible and that it was time to start planning for retirement. She shares her story and how an annuity was right for her and her family. In Mailbag — after retirement is taken care of, how should you invest an extra $10,000? We offer ideas and answer your other questions on freezing credit for toddlers and buying into CDs at credit unions. Plus: Venmo is about to get more expensive. Hear why in Thrive. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	You're listening to an airwave media podcast.
0:04.0	Her money is supported by Fidelity Investments.
0:14.0	We want to inspire you to be in your financial front seat
0:17.0	by knowing what you own, what you owe,
0:20.0	how to reach your goals, and having an annual checkup.
0:23.4	Learn more at fidelity.com slash front seat.
0:27.0	Her money comes to you through PRX. Hey everybody it's it's Jean Chatsky.
0:38.0	Welcome to her money so a few weeks ago actually a a little bit longer than that now.
0:45.0	Time is just going too fast, which is a very appropriate thing to mention
0:49.0	and you'll see why in just a second.
0:51.0	I recently was hired to moderate a panel for an association called
0:55.8	the Alliance for Lifetime Income. And on my panel was a woman named Elaine Larson.
1:05.0	Elaine Larson, for those of you who have never heard of her,
1:09.0	is a hot rodder.
1:11.0	In fact, she is a Hot Rod Association world champion.
1:17.5	She's the co-owner of a company called Larson Motorsports. And she makes her living going 280 miles an hour in a car that is propelled
1:31.5	by a rocket. Yes by a rocket.
1:34.0	Yes, a rocket.
1:35.4	I can say that one more time.
1:38.2	Elaine is also a fabulous, fabulous story,
1:42.4	and so I invited her after I met her to be. fabulous It's exciting for me too. So we've got you today on Skype. Where are we catching you?
1:55.2	We are actually in Palm Bay, Florida, right on the space coast, right where they have rockets that go in the
	...

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