Hack Your Wealth Podcast: Annuities explained: is annuity income a good investment in retirement?

It was a pleasure to share the mic with Andrew Chen, founder of Hack Your Wealth, Wealth Building Hacks for Lawyers, Engineers, & MBAs.

On October 18, 2021 (Episode 082) Andrew and I had a great conversation on his weekly podcast that covered the basics of annuities and dispelling the myths.

10 Questions from the Interview:

1. What annuities are, what purpose they serve?
2. How the different key types of annuities work
3. How fixed annuities account for inflation?
4. How insurance companies make money on annuities, how fees and expenses are typically structured, typical all-in cost consumers should expect to pay?
5. How to vet insurance companies that sell annuities, what questions to ask
6. The mechanics of how to actually buy an annuity
7. How agents are compensated, how to vet an agent before buying
8. What protections there are if the insurance company goes bankrupt
9. Annuities for early retirees (does it even make sense?)
10. What investor profile is best suited for annuities?

From those fantastic questions, we dove into the details. Andrew's audience is typically younger than my "Fun With Annuities" podcast listeners, so we spent a lot of time on the suitability and appropriateness of an annuity purchase and how specific annuity types fit.

There's a lot of financial IQ on this podcast, and I really enjoyed speaking with Andrew on his "Hack Your Wealth" podcast. At the end, I think you will agree that we factually "hacked" annuities as well. I would encourage you to go to Andrew's site and see what nuggets you can find.

>> WATCH ON VIDEO OR LISTEN ON AUDIO TO THE PODCAST HERE