An annuity is a financial product that is primarily used as a guaranteed income stream in retirement. But before investing in annuities, it’s important to understand the pros and cons. In this video, Rob explains how annuities work and offers cautionary tales of costly missteps that can happen when choosing annuities for retirement.
Topics Discussed:
- Single-Premium Immediate Annuities (SPIA): investment options, beneficiary options, guaranteed income, and protection from creditors
- Deferred Income Annuities (DIA)
- Mistakes people can make with annuities
- Fake rates or return
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. While our best intentions are to provide accurate and timely information, you should always consult with retirement, tax, and legal professionals prior to taking any action.