251: Annuities: An Intoduction to the Types and Uses of Annuities

Let's put our work boots on today and dig into some of the science of financial planning. We've been doing a lot of fluffy, motivational-type stuff on Radical Personal Finance recently. That stuff is really valuable but it needs to be tempered with some serious knowledge. Today, let's talk about annuities. Annuities get a bad rap in the financial marketplace. And rightly so. They've been shamefully misrepresented, oversold, and abused by many insurance agents. But do they have a place? Can they be an incredibly useful tool in the toolbelt of a good financial planner? I believe so. In today's show I work to share with you some background and structure about annuities. This will help you to understand the words involved and the different product structures available. We talk about: The number of lives covered (single life vs joint life vs joint-and-survivor annuities) When the payments start (immediate vs. deferred) Methods of premium payment (lump sums vs. periodic payments) Pure/straight life vs. refund annuities  Fixed vs. variable vs. indexed annuities And tons more! Enjoy the show! Joshua You Need A Budget! Use the same software that I use: http://radicalpersonalfinance.com/YNAB Need a Financial Advisor? Start here: http://radicalpersonalfinance.com/paladin Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron