The Problem with Annuities

Money Matters by Allworth Financial

Allworth Financial

Business, Investing, Business:investing

4.7 • 839 Ratings

🗓️ 31 March 2018

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this week’s Hanson McClain’s Money Matters, Scott and Pat take several calls and talk about the problem with annuities, playing a voicemail they received from an annuity wholesaler. Scott and Pat take a call from a woman who is 70 years old and wants to know how much money she should have in stocks versus bonds. A caller attended a living trust seminar and wants to know if he and his wife need one. A 59-year-old woman was laid off and wants to know if she should cash out her 401(k) and pay off her rental home and condo or sell the condo and move back to her rental home. Lastly, a caller wants to know if he should purchase long-term care insurance and if so what kind.

Transcript

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0:00.0	Answering your tough financial questions for the past 21 years, it's Hanson McLean's Money Matters, with co-hosts Scott Hanson and Pat McLean.
0:23.7	All right, this is Scott.
0:24.3	This is Pat. In today's program, we're talking with a caller who is trying to figure out, how much should
0:28.3	I have in stocks versus bonds as I'm about to retire?
0:31.2	Yeah, an age-old question.
0:34.1	Since the beginning of time.
0:36.2	From Stone Age time.
0:37.3	How much should I have in stock?
0:39.0	The second, oh, this topic, this has got us fired up, which is we have an annuity wholesaler
0:46.4	calling our firm suggesting that we sell an 11% commission product.
0:52.0	Stick around for this.
0:52.6	You want to miss it.
0:53.3	Thank you.
0:54.4	Would you like to? and 11% commission. Stick around for this. You want to miss it, Hanson McLean's Money Matters.
1:00.9	Would you like an opinion on a financial matter you're dealing with?
1:05.6	Whether it is about retirement, investments, taxes, or 401Ks,
1:09.4	Scott Hanson and Pat McLean would like to help you by answering your call.
1:11.9	To join Hanson McLean's Money Matters,
1:25.9	call now at 1-3-8 to Hanson. That's 1-3-8 to H-A-N-S-O-N. Welcome to Hanson's Money Matters. I'm Scott Hanson. I'm Pat McLean. Glad you're with us as we talk
1:28.3	about the world of finance, both myself and my co-host here. We're both financial advisors,
1:33.2	certified financial planner, charter financial consultant. We spend our weekdays meeting with people
1:37.5	like yourself. We come here on the weekends to be your financial advisors on the air. So whether
	...

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