The Truth About Annuities: Busting Myths and Answering Your Biggest Questions

Annuities might be one of the most misunderstood financial products out there – and they come with plenty of opinions…as well as questions. Are the fees really that high? Do advisors just push them for the commission? Could an annuity actually be the missing piece of your retirement plan?

On this episode of the HerMoney Podcast, we’re cutting through the noise with two leading experts: Michael Finke and Tamiko Toland of LIMRA’s Retirement Income Institute. They’re busting the biggest annuity myths, answering questions straight from our HerMoney Community and helping you figure out whether this type of protected income deserves a spot in your financial future.

Listen in to hear them cover:

A jargon-free explanation of annuity types and terms to be aware of
What to know if you’re buying an annuity – including how fees work
Whether there’s a “right” age to purchase an annuity
The next steps to take if an annuity sounds right for you

Protected income can help create greater stability in retirement. If you’re curious and want to dig deeper, this resource from LIMRA can help:

Chapters:
00:00:00 - The Annuity Secret That Unlocks 30% More Spending
00:01:04 - Welcome & What We're Covering Today
00:02:59 - What Is an Annuity, Really?
00:04:28 - Living Benefits Explained
00:05:40 - Types of Annuities You'll Actually Encounter
00:08:47 - Myth #1: Annuities Only Benefit the Seller
00:10:52 - The Real Cost Structure of Annuities
00:13:06 - Think of Fees as an Insurance Premium, Not an Expense
00:16:44 - Where Does the Extra 30-35% Come From?
00:19:17 - Q&A: Is It Too Late to Buy If I Retire in 5 Years?
00:21:50 - Q&A: Is a Fixed Annuity Right for a Single Woman?
00:24:10 - Q&A: Why Do Men Get Larger Payouts Than Women?
00:26:26 - How to Get Started & Find the Right Advisor
00:30:07 - Where to Learn More & Wrap-Up

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