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Is An Annuity Right For You?

October 22, 2020

The Principle:

Do you have an annuity? Should you? How can you tell if it’s a good or bad idea? Let’s talk about this income-generating investment.

(Want to jump ahead in the episode? Click the featured times below to skip to a specific section.)

Honest Takes:

Is an annuity a dirty word or a great tool for you? How do you know if it’s for you?

Annuities provide a guaranteed income that can bring a sense of security. Are you likely to have a long life ahead of you? Are you financially conservative? It’s possible that having annuity may be the right decision for you as a part of your overall financial plan.

The downfall of annuities are the several different types. Which one is the “good” one? Weigh out the options and find out if the particular annuity will accomplish your goals. Are you aware of the fees you will pay? Having an expert to help you decipher the right one for you is key.

Do you understand the cautions against annuities? They often get a bad reputation, especially for being misrepresented. If the fees don’t show up on the statement, how can you know what the real cost of the annuity? What’s the cap rate? What are your expectations?

There are a lot of options, but it’s important to find someone who can give you honest feedback. Is there a way to get your money to work better for you? Some annuities are bad, while some can be beneficial and offer peace of mind.

Listen to the entire episode or click on the timestamps below to skip to a particular segment.

[0:16] – Economists say one of the most underutilized tools are annuities.

[1:21] – What makes you a good candidate for an annuity?   

[4:23] – Aren’t annuities bad?

[5:33] – Brian’s team always does an inspection on your annuities.

[6:43] – What are your expectations with your annuity?

Today’s Truth:

“The number one reason people buy CDs and annuities is for safety.”

Brian Bowen

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Brian Bowen Integrity Financial Planning Roanoke Virginia discusses the deferred payment plan Bobby Bonilla and his agent were able to work out