Jill on Money with Jill Schlesinger Is There an Alternative to Annuities?
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Jul 28, 2025 In this discussion, the pros and cons of annuities are examined as listeners consider their financial futures. There's a deep dive into early retirement preparations, including expenses and healthcare. The impact of potential relocations on finances and housing is also explored. Additionally, the drawbacks of multi-bucket strategies are highlighted, emphasizing the need for accessible funds and second opinions from certified planners. Overall, it stresses informed decision-making in navigating complex financial products.
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Gary's Retirement Plan Story
- Gary feels physically and mentally worn out and wants to retire in a month at age 62.
- He has consulted a financial advisor and is reviewing a retirement plan involving annuities and insurance products.
Be Careful with Annuities
- Avoid tying up all retirement funds in annuities or protected principal products with high costs.
- Keep access to money flexible, especially with uncertain future plans like moving abroad.
Seek Second Opinions
- Get a second opinion from a certified financial planner before committing to complex financial products.
- Ask your advisor what alternatives exist besides tying up money in annuities and structured accounts.