Is An Annuity Right For You?

Annuities are tools some use as a part of their financial plan, but is it the right tool for you? Brian discusses what you need to know and look for when considering an annuity.

Annuities can sometimes be considered controversial, making them often an underutilized tool among retirement planners. Are annuities worth including in your financial plan? Annuities are not for everyone; it depends on your risk tolerance.

If something were to go awry, what would your reaction be? This can help determine your risk tolerance. Brian talks about clients who has an incredibly low risk tolerance and what their options are in retirement. You need to consider your overall financial plan.

A lot of annuities are not good but are legal. That said, a guaranteed income sounds really appealing. Some annuities can actually be great. Annuities are the same as a pension! Because Brian is a fiduciary, he only suggests annuities that are in his clients’ best interests. Sometimes you need to run the math to see what an annuity is really able to provide. Are the fees worth it? It’s important to understand what the costs are behind any financial product in order to make the best decision.

Listen to the entire episode or skip ahead using the timestamps below.

Honest Takes:

[0:12] Economist say annuities are underutilized among retirement planners.

[2:47] A lot of annuities are not good, even though they are compliant and legal.

[5:15] Some annuities are great.

Today’s Truth:

“You know what an annuity is? A pension. It’s the same thing! Annuity in Latin means “to pay out.”

Brian Bowen


The Host:

Brian Bowen – Contact