Suze Orman's Women & Money (And Everyone Smart Enough To Listen) Ask KT and Suze Anything: Why Buying a Condo Can End Up As Your Biggest Nightmare
Dec 26, 2024
Discover the importance of emergency savings and how personal experiences shape financial decisions. Explore the nuances of credit scores for homebuyers and learn why a 760 score is key for better rates. Tune in for insights on managing inherited assets and the difficulties that come with selling a condo. The hosts unpack the intricacies of living trusts and beneficiaries, ensuring you're prepared for the future. Get ready for a blend of practical advice and personal anecdotes that make money matters relatable!
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Debt payoff
- Prioritize paying off debt when close to retirement and expenses are high.
- Paying off debt increases security and potentially reduces future spending.
Annuity drawbacks
- Indexed annuities offer limited growth potential compared to market performance.
- They have unfavorable tax implications for both the owner and beneficiaries.
Exiting Annuities
- Surrender annuities strategically to minimize tax burden, considering surrender periods and penalties.
- Consult a financial advisor for personalized guidance on annuity surrender.