Should I Buy an Annuity?
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 22 January 2022
⏱️ 6 minutes
🔗️ Recording | iTunes | RSS
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Summary
Michael in Illinois is considering a Qualified Longevity Annuity Contract. What are the pros and cons he should keep in mind when it comes to a QLAC? That's the discussion on the latest bonus call. Have a money question? Email me here. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. 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/ http://www.stitcher.com/podcast/jill-on-money https://apple.co/2pmVi50
Transcript
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| 0:00.0 | Welcome to the Jill on Money Show. It is Saturday, January 22nd. And we are here to attempt |
| 0:11.0 | to take the mystery out of your financial life. Mark, just be prepared. We are about to |
| 0:15.6 | get slammed with many, many, many tax questions. I know it because it's going to be a confusing |
| 0:21.9 | tax season and tax season opens up on Monday. And so if you've got a tax question and you |
| 0:28.2 | want us to answer it, just go to the website JillOnMoney.com. JillOnMoney.com and click the contact |
| 0:35.6 | button. Okay, so here's something a little bit different. I am inviting you guys to join a webinar. |
| 0:42.1 | Yeah, I'm co-hosting a webinar with Brent Weiss. He's a certified financial planner and head |
| 0:48.0 | honcho, one of the head honchos, I should say, over at Fasted Wealth. The webinar is called Your |
| 0:53.0 | Money in 2022, what's news, what's noise, and what you need to do. We'll put a link to the |
| 1:01.0 | registration in the show notes, but it's going to be fun and it's going to be, you know, an hour. |
| 1:06.0 | It's not going to be five hours, okay? It is on January 27th at noon Eastern time. There |
| 1:13.6 | are limited spots available, so you should register if you can. All right, so check it out. |
| 1:19.2 | Let's go and talk to Karen in Kentucky about one of my triggers in life, annuities. |
| 1:27.0 | I've got a question about if you're familiar with a single purchase longevity annuities. |
| 1:34.3 | Yes, of course. Okay, and can you give me your fill on that? Sure, tell me a little bit about |
| 1:42.8 | your life and how this could or could not work for you. So what's going on for you? Are you retired |
| 1:48.1 | right now? I'm 63 and yes, I just retired a few months ago. Okay. I've got other RAs |
| 1:56.5 | since I retired. I do get a pension, so, you know, I'm okay, financially okay, with all that. |
| 2:04.3 | Paid off my home and I don't have any bills per se. And I just, where I had worked, I had |
| 2:13.6 | RAs, so I have some of money there. And that's what I was trying to figure out with the best option. |
| 2:21.6 | But you don't need income. In other words, you say you're good, right? Okay, so here's the thing. |
| 2:26.9 | I think that I get a bad rap on annuities because everyone says, you heard a new reason. |
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