Hello everyone welcome to Industry Focus the podcast that dives into a

different sector of the stock market every day you're listening to the

Financials Edition tape today on Monday April just kidding today on Monday, April. Just kidding. Today is Monday, July 31st, 2017.

My name is Gabby Lapera and joining me on Skype is Dan Kaplanger, Personal Finance Guru.

How's it going, Dan?

I'm doing good, but it's a Monday, definitely, Gabby.

It's definitely a Monday.

I thought it was also a Monday in April but it's definitely July just in case

anyone's wondering it's definitely July.

Unless you happen to be listening to this in April and then maybe it's April I

don't know but like right now in the second

that I'm taping it it is July. So today we are going to be talking about I guess what you would term personal finance schemes, I think that's what

you would call them.

It's just stuff that you shouldn't fall for that maybe someone in the personal finance

space is going to try and sell you.

And I think that the first one that I want to start with is annuities because I don't

think a lot of people understand annuities, but I think a lot of people are told that they need an annuity.

Dan, can you give a basic explanation of what an annuity is?

Well, it's actually harder than you would think to give a basic explanation of what an annuity is.

And that's a big part of the problem.

Because it's huge.

If you have ever tried to look at the fine print on a standard annuity contract.

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