Should My Parents Buy an Annuity?

Ramsey Everyday Millionaires

Ramsey Network

Careers, Business, Investing

4.6 • 3.6K Ratings

🗓️ 28 January 2026

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	This episode is brought to you by SmartVester.
0:07.8	Connect with an investing pro near you at Ramsey Solutions.com slash SmartVester.
0:13.7	All right, let's go to James in Harrisburg, Pennsylvania.
0:16.8	What's going on, James?
0:18.3	Oh, not much. How are you doing?
0:19.9	Better than we deserve, my friend.
0:21.2	How can we help?
0:22.3	I'm calling on behalf of my parents.
0:25.2	My parents recently asked me to attend their financial advisor meeting with them, and I'm not sure.
0:33.0	I've been listening to Dave Ramsey for a while, and it doesn't seem like it's what Dave would recommend
0:38.6	or what you guys would recommend.
0:40.6	So they're roughly right at like half a million dollars or $475,000.
0:47.0	And a third of that is in a annuity fund that will, once they start retire, that'll start paying out X number of dollars, like
0:57.1	10 grand or something a year.
0:58.5	Yeah.
1:00.3	What kind of annuity is it, do you know?
1:03.5	I don't know if I can say the name or not.
1:05.8	Is it like a fixed annuity variable index?
1:08.8	There's all kinds of types.
1:15.6	Yeah, I have no idea. I assume it's growing value of some sort. Like the cash value is much, like 156 of it is cash value. They pulled it out and there's like
1:22.6	220 some actual value in it.
1:24.6	Okay.
	...

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