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Brian Bowen of integrity financial planning based in roanoke virginia discusses suze orman and her take on variable annuities

The Perceived Value Of Variable Annuities

June 13, 2019

The Principle:

In honor of Suze Orman celebrating her birthday, Brian talks about some of her opinions regarding variable annuities. Are they a good fit for you?  What do you need to consider? Let’s talk about it.

(Click the featured times below to jump forward in the episode)

Honest Takes:

[0:15] How long should your money last?

  • Successful financial guru, Suze Orman, has always been a big proponent of financial planning. 
  • She says you could get hit by a car or have a random injury – and she’s right.
  • You should plan until you’re 90 or 100, you just don’t know what will happen.

[3:28] Variable annuities

  • Suze Orman was a financial advisor in the past, and she also did a video explaining variable annuities.
  • Brian shares a client example of someone who was stuck with a variable annuity.
  • If anybody is trying to sell you a variable annuity, you need to find another advisor (even if they are nice).
  • There are a lot of things you can invest in, whereas the variable annuities have five SEC cautions.
  • Find out the fees of your current investments.
  • Dave Ramsey has also blasted variable annuities.

Today’s Truth:

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The Host:

Brian Bowen, President of Integrity Financial Planning, has provided financial and retirement planning services to clients across the country.

 

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Brian Bowen of integrity financial planning based in roanoke virginia discusses suze orman and her take on variable annuities