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Money Guy Show

The Expensive Truth About Annuities

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Retirement, Moneyadvice, Investing, Savingmoney, Personalfinance, Business

4.62.8K Ratings

🗓️ 4 December 2015

⏱️ 40 minutes

🧾️ Download transcript

Summary

Truth about Annuities
Today, we want to expose a few truths about a type of investment that gets a lot of folks in the financial world fired up. We're sharing the truth about annuities on this episode of The Money-Guy Show, and explaining what you need to know about four different types of annuities and the expensive fees associated with each.

Transcript

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0:00.0

Anuities. Have you ever been so fearful of what's going on with the financial markets in the economy?

0:06.0

Did you say you know what? I want to take all market risks out of it. I'm going to buy an

0:09.9

annuity that's going to give me a guaranteed rate of return.

0:13.7

But you just didn't know if it was the right decision.

0:16.4

This is your show today. We're going to talk to you about the ins and outs, the truth about annuities,

0:20.6

and then we're also going to give you some guidelines to not getting ripped off all that more in today's show.

0:26.4

It's Brian Preston, the money guy, restoring order to your financial chaos, retirement, investing, taxes.

0:35.2

You've got financial questions. He's got financial answers. It's Brian Preston, the money guy.

0:42.0

Oh, we just got back from Thanksgiving. This is one of those shows. I have to have a musical setup.

0:49.2

Okay. So bear with me. We're going to get to it as you guys heard in the intro. This is going to be about the

0:54.7

truth about annuities. But let me get you in the mood first. Hang on one second.

0:58.9

I am literally, literally sitting on the edge of my seat because I have no idea what you're coming with right now.

1:07.0

And you've been on a pretty fun deal this past few, this past week or so.

1:12.3

So I have no idea where this is going. Just so you guys, if you didn't know, I went on a cruise for Thanksgiving.

1:17.3

So nothing says happy Thanksgiving and start your Merry Christmas like tropical Caribbean weather.

1:25.0

That's what that's what I've been dealing with. But with that said, I still came back craving to hear this next song.

1:33.5

Oh, yeah. Nothing says Merry Christmas like WAM.

1:41.0

Well, I kind of equate me and you to WAM. Are you an eye or way? I think I'm more the George Michael type.

1:45.7

Okay. That's why I don't even know the other guy.

1:48.1

I don't even know what his name is.

1:50.1

So as you guys can tell, Christmas is one of my favorite times of the year.

1:56.5

I get, I mean, in Bo Conn attest, I came to the office from this cruise and then it doesn't help that it's Christmas time.

...

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