What You Should Know About Annuities

Money Girl

Macmillan Holdings, LLC

Investing, Education, Business, Entrepreneurship, How To

4.6 • 1.8K Ratings

🗓️ 11 August 2021

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

Money Girl answers a listener question about annuities and explains the different types, how they work, and whether they can help you create a comfortable retirement. Read the transcript. Check out all the Quick and Dirty Tips shows. Subscribe to the newsletter to get more personal finance tips. Join the conversation on Facebook and Twitter. Links: https://www.quickanddirtytips.com/ https://www.quickanddirtytips.com/podcasts https://www.quickanddirtytips.com/subscribe https://www.facebook.com/MoneyGirlQDT https://twitter.com/LauraAdams

Transcript

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0:00.0	Hey everyone and thanks for joining me this week. My name is Laura Adams and I'm a personal
0:10.4	finance and small business expert and author who's been hosting the Money Girl Podcast
0:15.0	since 2008. My mission is to help you get the knowledge and motivation to prioritize
0:20.6	your finances, build wealth and have more security and less stress. Every show is created
0:27.0	to make sure you come away with practical advice that will help you make better money
0:31.5	decisions and ultimately take your financial life to the next level. Be sure to subscribe
0:37.1	to the show and participate by sending me your money questions or your comments. You
0:42.2	can do that 24-7 on our voicemail at 302-3640-308 and you can email me using my contact
0:52.4	page at LaraDatoms.com or connect with me on Instagram at LaraDatoms. If you want to
1:00.4	read a companion blog post for this or any Money Girl Podcasts, they are always published
1:06.5	in the Money Girl section at quickanddirtytips.com. Today's episode is number 695, called
1:14.2	What You Should Know About Anuities. This show was inspired by a question I received from
1:20.8	Marsha You. Marsha says, I work at a university so my retirement is through TIAA. When I recently
1:29.2	spoke to their rep, she suggested an annuity with half as a variable product. I'm 65 years old
1:36.9	and will retire at age 70 so I have some time to design. Can you do a podcast to explain what I
1:43.3	should know about annuities? Marsha, thank you so much for your question. Anuities can be a wise
1:50.2	way to say for retirement if you fully understand them. I'm delighted that you asked. It's actually
1:57.2	been a while since I have podcast about annuities. This show will review how annuities work,
2:03.1	the different types, and how they relate to saving enough for a comfortable retirement.
2:08.8	So let's start with just a general primer on what is an annuity. These are products that have been
2:15.2	around a long time and they're commonly used by conservative retirees who want to make sure
2:22.0	that they will have a regular income for the rest of their lives. This is becoming more and more
	...

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