On today’s podcast, I’m joined by Cordasco Financial Network’s Ryan Flurer to discuss annuities. Ryan, an Insurance Specialist, has extensive insurance knowledge after years of experience in that. Ryan and I will unpack this complicated topic. Annuities are important to understand when it comes to planning for your retirement because they help provide retirees with a source of income. Some people shy away from annuities altogether, because determining the type of annuity that best suits your individualized needs can be a cumbersome and difficult process. The goal of this podcast is to educate you on the various types of annuities so you can make more informed decisions.
When it comes to picking an annuity, it’s like shopping for a car, there are many varieties from which to choose. It’s important to consider your current needs, as well as what your needs may be in the future. For example, a convertible sports car may be nice to have now, but will that car be safe enough for your grandchildren to ride in? When you pick an annuity, you have to be comfortable with your choice and make sure it suits your needs in the long-run.
On the program, Ryan and I will discuss the common types: fixed, variable, immediate, deferred and indexed. You will learn the differences among the various types of annuities and hear specifics about each alternative. After listening to the show, you will have a clearer understanding of each type of annuity and be better prepared to determine which annuity type best suits your individual needs. You may also find that annuities might not be an appropriate choice for your individual circumstances. Either way, this program provides education to help you better navigate your retirement planning process.
Do you have more questions about annuities? Would you want your question to be featured on the Your Life Your Wealth show? If so, you can send us an email with questions or comments to AskSteve@CFNPlan.com