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Money Girl

When Should You Buy an Annuity for Retirement?

Money Girl

Macmillan Holdings, LLC

Investing, How To, Entrepreneurship, Business, Education

4.61.8K Ratings

🗓️ 24 May 2024

⏱️ 15 minutes

🧾️ Download transcript

Summary

Laura answers a question about annuities and whether you should buy one for retirement income.

Money Girl is hosted by Laura Adams. A transcript is available at Simplecast.

Have a money question? Send an email to money@quickanddirtytips.com or leave a voicemail at 302-365-0308.

Find Money Girl on Facebook and Twitter, or subscribe to the newsletter for more personal finance tips.

Money Girl is a part of Quick and Dirty Tips.

Links: 

https://www.quickanddirtytips.com/

https://www.quickanddirtytips.com/money-girl-newsletter

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https://lauradadams.com/


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Transcript

Click on a timestamp to play from that location

0:00.0

Hey everyone welcome back to Finance Friday another special edition of

0:09.2

Money Girl where I answer your burning money questions. I hope you're doing well I'm down in Florida where it is already

0:15.4

hot, hot, hot, and humid. It feels like summer is here. Today I'm going to

0:20.0

answer a question that comes from Marsha who says I'm 68 and plan to retire at 70.

0:26.4

I work for a university and our retirement is with TIAA.

0:31.2

They've suggested that I buy an annuity when I retire. I know some experts don't like

0:36.4

annuities. How do you feel about them? Thanks for your question, Marsha, and I remember you

0:41.3

asked a question about annuities a couple of years ago, so I really appreciate you coming back with this. It sounds like you're getting a lot closer to retirement.

0:50.0

And yes, people certainly have strong opinions about annuity.

0:54.7

So I'm glad you asked the question.

0:57.0

I will review how annuities work, what I think about them,

1:01.5

and whether you should consider buying one for retirement.

1:05.0

Again, thanks for joining me.

1:06.7

I'm Laura Adams, an author, spokesperson, money speaker, founder of the Money Stack

1:12.0

newsletter and host of Money Girl with 43 million downloads.

1:16.1

If you're not already subscribed, please do that.

1:18.3

That is the best way to make sure you get both of our weekly shows that are coming out on Wednesdays and Fridays.

1:25.4

Definitely subscribe to the Money Stack newsletter as well.

1:28.4

It's free to do that with lots of good information.

1:31.4

If you have a question you want me to cover here on the show you

1:34.8

can do it in a couple ways. One is to call our voicemail line at 302-3640-308 and you can just tell me if you don't want your to 3640,000,000,000,000,000,

1:45.0

and you can just tell me if you don't want your voice on the show,

...

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