Aug 15, 2023
In this episode, The Annuity Man and Kerry Pechter discuss:
Recommended readings for retirees
The many types and applications of annuity products
Pulling back the curtain on annuity systems
Two products that Kerry likes
If you buy an annuity book, start with “Annuities For Dummies” because it’s a primer, a foundational book, and much more. Issues of the Retirement Income Journal are also another must-read.
Whatever comes after the phrase “all annuities are…” is always false, as you can’t broadly categorize all annuities. They are like restaurants, shoes, or cars; you can’t say they are all bad. Every type of annuity has a different purpose and a different application.
Choose a company that puts its policyholders first. You don’t want to be second in line or third in line to management and the shareholders regarding retirement.
Kerry shed light on two products that people might want to look into to see if it fits their retirement plan: the variable income annuity and the fixed rate annuity with long-term care.
"Annuities are a bunch of products that have as much that are unalike as they are alike. Each one is a tool for particular kinds of people in particular kinds of life for different kinds of risk management." — Kerry Pechter.
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