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In this episode of Kelley's Bull Market News, Kelley Slaught discusses the importance of maintaining a comprehensive financial plan, which includes not only investments but also risk management, estate planning, and income strategies for retirement. She emphasizes the need for personalized plans that address individual circumstances, particularly in light of increasing longevity and the complexities of modern financial markets. Reach Kelley at 800-810-8060. California Wealth Advisors www.californiawealthadvisors.com See omnystudio.com/listener for privacy information.
Marty discusses the complexities of retirement spending, emphasizing that spending patterns change significantly throughout retirement. He highlights the importance of budgeting for the 'go-go years' when retirees often spend more on travel and leisure, the 'slow-go years' where spending may decrease, and the 'no-go years' where health care costs become a major concern. Reach Marty at 888-519-9096. Smart Money Solutions www.smartmoneysolutionsmn.com See omnystudio.com/listener for privacy information.
Retirement planning often revolves around one critical fear: running out of money. A recent study highlights that retirees with guaranteed income, such as pensions, spend 42% more than those relying solely on savings, showcasing the confidence that steady income can provide. Ryan Herbert and Katherine Groce explain that understanding monthly expenses and crafting a plan that secures income through diverse options—market investments, dividend portfolios, or annuities—retirees can prepare for financial stability regardless of market fluctuations. Want to begin building your retirement plan? Schedule a call with us here:
Marty discusses the various financial surprises that retirees may encounter, including fluctuating expenses, the impact of healthcare costs, and the importance of proactive planning. He emphasizes the need for a comprehensive understanding of retirement expenses, including hidden costs and the role of inflation. The discussion also covers lifestyle changes in retirement, spousal strategies for aligning goals, and the complexities of Social Security and healthcare planning. Reach Marty at 888-519-9096. Smart Money Solutions www.smartmoneysolutionsmn.com See omnystudio.com/listener for privacy information.
Kelley discusses essential strategies for retirement planning amidst market volatility. She emphasizes the importance of creating solid income streams, preparing for long-term care costs, and utilizing Roth conversions to optimize tax benefits. The conversation also covers innovative funding solutions for long-term care and the significance of a balanced investment strategy. Listeners are provided with a comprehensive checklist to ensure they are financially ready for retirement, highlighting the need for personalized planning and diversification. Reach Kelley at 800-810-8060. California Wealth Advisors www.californiawealthadvisors.com See omnystudio.com/listener for privacy information.
Retirement doesn’t have to mean taking unnecessary risks with your savings. Mike Canet & Katherine Groce explain how thoughtful planning and tailored strategies can help retirees create sustainable income streams while minimizing exposure to market volatility. They highlight examples of retirees, like one who thrives with just a 5% return by living within his means and structuring his investments wisely. Mike & Katherine also explore alternatives to traditional stock market investments, such as CDs, fixed index annuities, and structured notes, emphasizing solutions for those seeking stability and added peace of mind in retirement. Want to begin building your retirement plan? Schedule a call with us here:
Kelley covers the significant changes in retirement planning over the past two decades, emphasizing the need for personalized financial strategies. She highlights the importance of creating income streams for retirement, understanding the limitations of Medicare, and the necessity of planning for a longer life expectancy. The discussion also covers various strategies for maximizing retirement income, including the benefits of employer matching contributions and the importance of starting to save early. Reach Kelley at 800-810-8060. California Wealth Advisors www.californiawealthadvisors.com See omnystudio.com/listener for privacy information.
In this conversation, Marty discusses various aspects of retirement planning, focusing on building a durable income stream through annuities, tax strategies to minimize tax burdens, and managing required minimum distributions (RMDs) effectively. He emphasizes the importance of understanding individual financial needs and the evolving nature of financial products available for retirement planning. Reach Marty at 888-519-9096. Smart Money Solutions www.smartmoneysolutionsmn.com See omnystudio.com/listener for privacy information.
Kelley discusses the importance of holistic retirement planning, emphasizing that it encompasses more than just financial assets. She explains the differences between traditional and holistic planning, the role of technology, and various tax strategies that can enhance retirement outcomes. Reach Kelley at 800-810-8060. California Wealth Advisors www.californiawealthadvisors.com See omnystudio.com/listener for privacy information.
Marty discusses effective strategies for retirement planning, emphasizing the importance of building multiple income streams, consolidating retirement accounts, and identifying potential red flags in retirement planning. Reach Marty at 888-519-9096. Smart Money Solutions www.smartmoneysolutionsmn.com See omnystudio.com/listener for privacy information.
Kelley discusses essential strategies for retirees to navigate the current economic landscape. She emphasizes the importance of revisiting retirement income plans, understanding market volatility, and creating a needs versus wants budget. Kelley also highlights the significance of rebalancing portfolios and the benefits of dollar cost averaging. Throughout the conversation, she addresses common concerns about long-term care and the psychological aspects of retirement planning, encouraging listeners to stay calm and focused on their financial goals. Reach Kelley at 800-810-8060. California Wealth Advisors www.californiawealthadvisors.com See omnystudio.com/listener for privacy information.
Marty discusses various economic indicators that may signal a recession, both conventional and unconventional. He emphasizes the importance of understanding these indicators to make informed financial decisions. The discussion also covers the significance of diversifying income streams, maintaining emergency funds, and avoiding common retirement planning mistakes. Marty highlights the necessity of strategic tax planning and the importance of long-term retirement strategies tailored to individual needs. Reach Marty at 888-519-9096. Smart Money Solutions www.smartmoneysolutionsmn.com See omnystudio.com/listener for privacy information.
Kelley addresses the pressing financial concerns facing individuals today, particularly those approaching retirement. The conversation covers strategies for navigating market volatility, the importance of diversification, and proactive tax planning. Kelley emphasizes the need for a comprehensive financial plan to mitigate risks associated with economic uncertainty and offers insights on how to identify trustworthy financial advisors. The episode aims to empower listeners with actionable strategies to secure their financial future. Reach Kelley at 800-810-8060. California Wealth Advisors www.californiawealthadvisors.com See omnystudio.com/listener for privacy information.
Marty covers financial planning strategies for uncertain economic times, emphasizing the importance of preparation and mindset. The discussion also covers inflation's impact on retirement and the balance between cash management and investment strategies. Marty discusses the importance of wise investing for retirement, emphasizing the need to protect savings and avoid unnecessary risks. He highlights the unique financial challenges women face, including the wage gap and longevity issues, and offers strategies to overcome these obstacles. The discussion also touches on the significance of having a solid financial plan, the role of risk aversion in investment strategies, and concludes with light-hearted mom-isms that provide timeless financial wisdom. Reach Marty at 888-519-9096. Smart Money Solutions www.smartmoneysolutionsmn.com See omnystudio.com/listener for privacy information.
Kelley stresses the importance of maintaining a steady investment strategy amidst market volatility. She emphasizes the need for sustainable withdrawal plans in retirement, the dangers of high-risk investments, and the significance of tax-efficient strategies. Kelley also highlights the importance of healthcare and long-term care planning, and the role of annuities in providing guaranteed income. The conversation wraps up with a focus on common investment blunders and how to avoid them, ensuring listeners are well-informed and prepared for their financial futures. Reach Kelley at 800-810-8060. California Wealth Advisors www.californiawealthadvisors.com See omnystudio.com/listener for privacy information.
Marty covers common misconceptions about retirement planning, emphasizing the importance of realistic assumptions. He highlights the risks associated with relying on market performance, inflation, and the expectation of inheritance. Marty stresses the need for a comprehensive retirement plan that accounts for potential life changes and economic fluctuations. He also explores opportunities that arise in volatile markets, such as tax loss harvesting and strategic buying, while advocating for guaranteed income strategies to ensure financial security in retirement. Reach Marty at 888-519-9096. Smart Money Solutions www.smartmoneysolutions.com See omnystudio.com/listener for privacy information.
In this week's episode, we'll discuss how you can get equity-like gains with no risk of losses with your retirement nest egg. How do Fixed Indexed Annuities work? Can you change how your money grows every year and have no growth as the worst-case scenario? Are these plans safe? Isn't it time to get answers to the tough retirement questions now?Join Certified Financial Fiduciary® and bestselling author Tim Wood each week to discuss protecting your retirement dollars, guaranteeing your lifetime income, wisely planning for taxes, and more. Visit us online at www.SafeMoneyRetirement.com for more information, to join us for this week's webinar, or to get a FREE copy of Tim's bestselling book.Safe Money Retirement® - Insuring Your Retirement Dreams
Kelley discusses the importance of planning for business succession and personal legacy as one approaches retirement. She emphasizes the need for clear communication regarding succession plans, financial organization, and the significance of creating a lasting impact beyond business. The discussion also explores the evolving concept of retirement, suggesting a shift towards a more fulfilling 'thrive time' rather than traditional retirement, and highlights the importance of leisure and personal fulfillment in this new phase of life. Reach Kelley at 800-810-8060. California Wealth Advisors www.californiawealthadvisors.com See omnystudio.com/listener for privacy information.
Marty discusses the challenges and strategies for navigating market uncertainty as individuals approach retirement. He emphasizes the importance of sticking to a financial plan, understanding income-generating investments, and maximizing Social Security benefits. The discussion highlights the need for knowledge and preparation in retirement planning, particularly in light of market fluctuations and the complexities of Social Security. Reach Marty at 888-519-9096. Smart Money Solutions www.smartmoneysolutionsmn.com See omnystudio.com/listener for privacy information.
Kelley Slaught discusses essential strategies for maintaining financial stability in retirement. She emphasizes the importance of budgeting, adjusting withdrawal strategies, and exploring additional income sources. The conversation also delves into the significance of life insurance in wealth preservation and estate planning, highlighting its evolving role. Kelley shares practical tips and insights to help listeners navigate their retirement planning effectively. Reach Kelley at 800-810-8060. California Wealth Advisors www.californiawealthadvisors.com See omnystudio.com/listener for privacy information.
Marty talks about the recent recovery in the stock market, the implications of tariffs on American manufacturing, and the political landscape affecting economic policies. He delves into retirement planning strategies amidst market volatility, emphasizing the importance of guaranteed income streams for retirees. The discussion also touches on budgeting and managing expenses and concludes with insights on consumer confidence and the future economic outlook. Reach Marty at 888-519-9096. Smart Money Solutions www.smartmoneysolutionsmn.com See omnystudio.com/listener for privacy information.
Kelley talks about the multifaceted challenges of retirement planning, emphasizing the importance of addressing investment risks, inflation, healthcare costs, and market volatility. She highlights the need for proactive financial planning and budgeting to avoid pitfalls such as impulse spending and credit card debt. The discussion also touches on the significance of having a comprehensive financial plan that includes estate planning and diversification of income sources. Reach Kelley at 800-810-8060. California Wealth Advisors www.californiawealthadvisors.com See omnystudio.com/listener for privacy information.
Marty discusses the critical aspects of retirement planning, emphasizing the importance of tax strategies, the benefits of indexed universal life insurance, and the role of annuities in providing a stable income. He also explores the differences between Roth and traditional accounts, and draws parallels between retirement planning and lessons from classic literature, highlighting the need for a sound strategy in the face of current market trends. Reach Marty at 888-419-9096. Smart Money Solutions www.smartmoneysolutionsmn.com See omnystudio.com/listener for privacy information.
Kelley discusses the critical aspects of retirement spending, including budgeting, income solutions, and common financial mistakes to avoid. She emphasizes the importance of having a structured financial plan and understanding the role of annuities in retirement. The conversation also highlights the need for diversification in investment portfolios and the significance of taking advantage of employer-sponsored retirement plans. Reach Kelley at 800-810-8060. California Wealth Advisors www.californiawealthadvisors.com See omnystudio.com/listener for privacy information.
Marty discusses the various curveballs that retirees may face, including financial instability, healthcare costs, taxes, inflation, and the importance of estate planning. He emphasizes the need for a flexible retirement plan that can adapt to life's unexpected challenges. The conversation also revisits traditional retirement rules, such as the 4% rule and the 25 times rule, providing insights on how to effectively manage retirement income and expenses. Reach Marty at 888-519-9096. Smart Money Solutions www.smartmoneysolutionsmn.com See omnystudio.com/listener for privacy information.
In this video, I sit down with Larry Gray from Legacy Insurance, a true expert in uncovering hidden money, retirement planning, and selling Fixed Indexed Annuities.Most life insurance agents are leaving money on the table without even realizing it! Larry breaks down how to find more money with your clients, structure bigger sales, and help them secure a better financial future—all while increasing your commissions. If you're an agent looking to level up your sales game, this is a must-watch!
Kelley discusses the current financial landscape, focusing on inflation, tariffs, and social security, while also comparing how different generations approach retirement planning. The conversation emphasizes the importance of diversification, professional financial advice, and proactive strategies to prepare for retirement amidst economic uncertainties. Kelley discusses various aspects of wealth management, focusing on strategies for retirement, estate planning, and the importance of understanding trusts and gifting. Reach Kelley at 800-810-8060. California Wealth Advisors www.californiawealthadvisors.com See omnystudio.com/listener for privacy information.
Marty discusses the complexities surrounding tariffs and their implications for retirement planning. He explores the myths and facts about tariffs, their impact on inflation, and how they affect stock prices and retirement funds. Marty emphasizes the importance of adapting retirement strategies in light of economic changes, including the use of annuities and life insurance for generating income. The discussion highlights the need for a comprehensive retirement plan that considers market volatility and inflationary pressures. Reach Marty at 888-419-9096. Smart Money Solutions www.smartmoneysolutionsmn.com See omnystudio.com/listener for privacy information.
In this week's episode, we'll discuss how you can get gains based on the S&P 500 with NO losses. Are you ready for the next market event? How do Fixed Indexed Annuities work for growth? What's the difference between a fixed and a variable plan? Isn't it time to get answers to the tough retirement questions now?Join Certified Financial Fiduciary® and bestselling author Tim Wood each week to discuss protecting your retirement dollars, guaranteeing your lifetime income, wisely planning for taxes, and more. Visit us online at www.SafeMoneyRetirement.com for more information, to join us for this week's webinar, or to get a FREE copy of Tim's bestselling book.Safe Money Retirement® - Insuring Your Retirement Dreams
In this episode, Kelley Slaught discusses the unique challenges and opportunities for those retiring in 2025. She emphasizes the importance of early planning, understanding Medicare, managing inflation, and diversifying income streams. Kelley also highlights strategic approaches to Social Security, debt management, and the necessity of estate planning to ensure a secure financial future. Reach Kelley at 800-810-8060. California Wealth Advisors www.californiawealthadvisors.com See omnystudio.com/listener for privacy information.
Marty discusses the implications of tariffs on retirement planning, the volatility of the markets, and effective debt management strategies for retirees. He emphasizes the importance of understanding how economic changes can affect financial security and offers insights into navigating these challenges. The discussion also highlights the need for a flexible retirement plan that can adapt to market fluctuations and personal financial situations. Reach Marty at 888-519-9096. Smart Money Solutions www.smartmoneysolutionsmn.com See omnystudio.com/listener for privacy information.
Kelley discusses the essential steps to replace your paycheck in retirement, emphasizing the importance of a detailed budget and understanding various income streams. She highlights common mistakes made by baby boomers, such as underestimating longevity and ignoring inflation. Additionally, Kelley addresses the need for planning for long-term care and medical costs, advocating for a holistic approach to financial planning that includes estate planning and tax strategies. Reach Kelley at 800-810-8060. California Wealth Advisors www.californiawealthadvisors.com See omnystudio.com/listener for privacy information.
Marty discusses the complexities of retirement planning, emphasizing the importance of replacing lost income, customizing strategies to individual needs, and the significance of social connections post-retirement. He explores various aspects of financial security, including tax strategies and risk management, while highlighting the necessity of a well-structured plan to ensure a fulfilling retirement. Reach Marty at 888-519-9096. Smart Money Solutions www.smartmoneysolutionsmn.com See omnystudio.com/listener for privacy information.
Kelley discusses the latest Consumer Price Index (CPI) report, its implications for inflation, and how it affects retirees. She emphasizes the importance of having a solid financial plan that accounts for inflation and healthcare costs. The conversation transitions into retirement planning, addressing key questions that individuals nearing retirement should consider, including budgeting, income needs, and legacy planning. Kelley provides insights into various investment strategies and the importance of a comprehensive approach to wealth management. Reach Kelley at 800-810-8060. California Wealth Advisors www.californiawealthadvisors.com See omnystudio.com/listener for privacy information.
Marty discusses the various aspects of retirement, including the loss of predictable income, the importance of finding purpose, the implications of losing employer-sponsored benefits, and the need for a solid spending plan. He also delves into tax strategies, particularly Roth conversions, and their potential benefits and drawbacks. The discussion emphasizes the importance of planning for a fulfilling retirement while navigating financial complexities. Reach Marty at 888-519-9096. Smart Money Solutions www.smartmoneysolutionsmn.com See omnystudio.com/listener for privacy information.
Kelley Slaught discusses the financial strategies of wealthy individuals, emphasizing the importance of early and consistent investing, maximizing tax advantages, and diversifying investments. She highlights the need for professional guidance in financial planning and the significance of creating multiple income streams. The conversation also covers long-term planning, the strategic use of debt, and the critical nature of estate planning for legacy preparation. In this conversation, Kelley discusses various financial strategies for high-net-worth clients, focusing on tax implications in retirement, the effectiveness of robo-advisors compared to personalized financial advice, and the importance of diversification in retirement portfolios. She emphasizes the need for proactive tax strategies and the significance of client communication and service quality in financial advising. Reach Kelley at 800-810-8060. California Wealth Advisors www.californiawealthadvisors.com See omnystudio.com/listener for privacy information.
Marty discusses the essential aspects of retirement planning, focusing on how much money individuals need to retire comfortably. He emphasizes the importance of evaluating expenses, maximizing savings, managing debt, and planning for healthcare costs. The discussion also covers strategies for maximizing social security benefits and draws historical parallels to retirement planning from the Roman Empire, highlighting the evolution of retirement systems and the challenges faced in modern retirement planning. Reach marty at 888-519-9096. Smart Money Solutions www.smartmoneysolutions.com See omnystudio.com/listener for privacy information.
Kelley discusses essential strategies for investing in retirement, emphasizing the importance of diversification and having a solid plan. She highlights common mistakes people make in retirement planning, such as trying to beat the market or keeping too much money in cash. Kelley also addresses the challenges of managing real estate investments and the benefits of using annuities for income generation. The conversation is packed with insights on how to achieve financial objectives and avoid costly blunders in retirement. Reach Kelley at 800-810-8060. California Wealth Advisors www.californiawealthadvisors.com See omnystudio.com/listener for privacy information.
The conversation explores the implications of the 'Silver Tsunami' as more baby boomers reach retirement age, discussing the challenges and considerations for retirement planning, including Social Security, income diversification, and the importance of having a purpose in retirement. Various types of retirees are examined, highlighting different approaches to life after work, from those who continue to work out of passion to those who embrace a more leisurely lifestyle. Marty discusses the importance of comprehensive retirement planning, addressing various case studies that highlight common pitfalls and strategies for securing a comfortable retirement. Reach Marty at 888-519-9096. Smart Money Solutions www.smartmoneysolutionsmn.com See omnystudio.com/listener for privacy information.
Kelley discusses the importance of financial health, emphasizing the need for budgeting, managing debt, and creating a financial plan tailored to individual needs. She highlights the emotional aspects of money and its impact on mental health, while also providing insights into effective strategies for wealth management. The discussion transitions into lessons from historical figure Jacob Fugger, focusing on diversification, leveraging opportunities, and the significance of having a long-term vision in financial planning. Kelley encourages listeners to invest in their financial education and seek personalized advice for their financial futures. Reach Kelley at 800-810-8060. California Wealth Advisors www.californiawealthadvisors.com See omnystudio.com/listener for privacy information.
Marty discusses essential strategies for retirement planning, focusing on balancing risk and reward, ensuring guaranteed income, and navigating the complexities of cryptocurrency and tax-free income sources. He emphasizes the importance of understanding investments, managing risks, and utilizing tools like annuities, Roth IRAs, and HSAs to secure a stable financial future. The discussion also highlights the potential pitfalls in retirement planning, particularly regarding taxes and Social Security. Reach Marty at 888-519-9096. Smart Money Solutions www.smartmoneysolutionsmn.com See omnystudio.com/listener for privacy information.
Weston Lindemann talks about the different strategies that wealthy individuals use for retirement planning. He emphasizes the importance of discipline, maximizing tax-advantaged accounts, and investing wisely. The discussion also covers risk management, asset appreciation, and the benefits of using ETFs over traditional mutual funds. In this conversation, Weston Lindemann discusses the differences between ETFs and mutual funds, emphasizing the liquidity and cost-effectiveness of ETFs. He highlights the importance of tax planning in retirement, particularly in light of changing tax laws and the implications of required minimum distributions (RMDs). Reach Roberts Wealth Management at 800-891-8680. Roberts Wealth Management www.robertswealth.com See omnystudio.com/listener for privacy information.
Kelley Slaught discusses the multifaceted nature of retirement, emphasizing that it encompasses more than just financial numbers. She highlights the importance of defining personal retirement goals, creating a tailored retirement plan, and understanding the various phases of retirement. The discussion also touches on the significance of historical wisdom in financial planning and the necessity of continuous learning and adaptation throughout retirement. Kelley provides practical advice on budgeting, managing expenses, and maintaining social connections to ensure a fulfilling retirement experience. Reach Kelley at 800-810-8060. California Wealth Advisors www.californiawealthadvisors.com See omnystudio.com/listener for privacy information.
Marty discusses the concept of behavioral finance and its implications for retirement planning. He emphasizes the emotional aspects of financial decisions, the importance of understanding one's triggers, and the need for a diversified approach to retirement income. Marty also highlights the role of a financial coach in navigating the complexities of retirement planning, the necessity of regular reassessments, and the application of military strategies to ensure financial security. Reach Marty at 888-519-9096. Smart Money Solutions www.smartmoneysolutions.com See omnystudio.com/listener for privacy information.
Weston Lindeman discusses the limitations and hidden costs of 401k plans as a retirement savings strategy. He emphasizes the importance of understanding tax implications and exploring alternative investment options. The discussion transitions into the significance of financial literacy in retirement planning, highlighting how a basic understanding of financial concepts can empower individuals to make informed decisions about their retirement savings and investments. He highlights the role of financial literacy and education, particularly in schools and workplaces, and the need for personalized financial planning. Reach Roberts Wealth Management at 800-891-8680. Roberts Wealth Management www.robertswealth.com See omnystudio.com/listener for privacy information.
In this episode of Financial Safari, Coach Pete and his guests discuss the importance of proper retirement planning and the strategies needed to ensure financial security in retirement. They explore the concept of financial life preservers, the role of a financial coach, and how to identify quality financial advisors. The conversation also covers the advance and protect strategy, the pitfalls of high yield savings accounts, and the differences between various retirement income strategies. In this conversation, Coach Pete DeRuda discusses various strategies for effective retirement planning, emphasizing the importance of high yield savings accounts, guaranteed income, and comprehensive financial reviews. He addresses common concerns about retirement, such as social security benefits and the need for a spend and leave plan. The discussion highlights the significance of eliminating worries and ensuring peace of mind for a comfortable retirement.See omnystudio.com/listener for privacy information.
Jim and Chris sit down to discuss listener questions relating to Social Security benefits, planning with the potential for an SO, funding a 529 savings account, losses in a Roth IRA, and Fixed Indexed Annuities… (9:00) A listener hopes Chris can tell him if having a different name on his Birth Certificate and Social Security […] The post Social Security, Retirement Planning, 529 Savings Accounts, Roth Losses, and FIAs: Q&A #2440 appeared first on The Retirement and IRA Show.
In this episode of Financial Safari, Coach Pete discusses various aspects of financial planning, focusing on retirement income strategies, the impact of economic indicators on investments, and the importance of understanding recency bias. The conversation also touches on managing stress related to retirement planning and the differences between high yield savings accounts and fixed indexed annuities. Coach Pete emphasizes the need for a solid retirement plan that ensures a lifetime income, regardless of market fluctuations. In this conversation, Coach Pete discusses various aspects of financial planning, focusing on high-yield savings accounts, retirement strategies, and the role of annuities. He emphasizes the importance of understanding financial products, the need for personalized retirement plans, and the significance of having a reliable income stream in retirement. The discussion also touches on the pitfalls of cookie-cutter financial advice and the necessity of adapting plans to individual needs and market conditions.See omnystudio.com/listener for privacy information.
When we think about our financial fears, one tops the list: Running out of money before we run out of time. According to the Center for Retirement Research at Boston College, half of all US households are at risk of not having enough income to maintain their standards of living in retirement. The bottom line is that Americans have a problem and we know it. The good news is that we have the ability to fix this problem in our own individual lives, with tools we already have access to today. They're called annuities, and more people are interested in, and buying annuities, than in years past. Minji Ro, Chief Strategy Officer at Gainbridge, and Jason Fichtner, Chief Economist at the Bipartisan Policy Center join us to talk about what annuities are, why economists like them, and the advantages of considering them as part of your retirement portfolio. Chapters: 0:00 Intro 4:04 Defining Annuities: What They Are 12:06 The Shift in Retirement Income Strategies Over Time 14:01 The Three Major Types of Annuities: Fixed annuities, Fixed Indexed Annuities, and Variable Annuities 21:23 Transitioning Mindset: From Saving and Accumulating To Spending And Securing Protected Income 24:28 Annuities and Managing Longevity Risks As Women 30:00 Transition to Mailbag Segment 33:23 Retirement For Highly Compensated Employees 41:34 When To Get A Second Opinion From A Financial Planner Takeaways: Annuities can provide a guaranteed stream of income during retirement. There are three main types of annuities: fixed, fixed index, and variable. Economists like annuities because they offload risk and provide income protection. There is a behavioral barrier to annuitization, but changing the framing and understanding the benefits can help overcome it. Women, who earn less and live longer, should consider annuities to manage longevity risk. Have a question for us? Write to us at mailbag@hermoney.com. While you're at it, join the HerMoney community! For the latest episode drops and financial news-you-can-use, subscribe to our newsletter at Hermoney.com/subscribe! The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Thank you to Gainbridge® for supporting the HerMoney podcast. Gainbridge® created ParityFlex™, a multi-year guaranteed annuity, to offer women security and flexibility at a time when they need it the most—retirement. Learn more about ParityFlex™ here. Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
David addresses Clark Howard's viewpoint that seems to want to invite people to never consider a fixed index annuity. Despite interacting with thousands of financial advisors who offer fixed index annuities every year, David has never heard one of them describe them the same way as Clark Howard. Since financial gurus have to get their points across in short three-minute segments, they don't have the luxury of nuance, says David. David explains how fixed index annuities actually work, and why you can't lose money in a fixed index annuity in its simplest form. David touches upon the role of surrender charges and how Howard is wrong about them. In traditional stock market investing, you're not supposed to withdraw more than 4% per year. Mentioned in this episode: David's books: Power of Zero, Look Before You LIRP, The Volatility Shield, Tax-Free Income for Life and The Infinity Code DavidMcKnight.com DavidMcKnightBooks.com PowerOfZero.com (free 3-part video series) @mcknightandco on Twitter @davidcmcknight on Instagram David McKnight on YouTube Get David's Tax-free Tool Kit at taxfreetoolkit.com Clark Howard