Jill on Money with Jill Schlesinger Is Now the Time for Fixed Index Annuities?
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Feb 19, 2025 Explore the benefits and drawbacks of investing in fixed index annuities, especially for those with solid financial resources. Learn about effective retirement income strategies and the importance of claiming Social Security benefits at the right time. Hear a couple's inspiring financial journey towards building a robust retirement savings nearing $4 million. Delve into the significance of selecting the right financial advisor and the challenges of navigating portfolio management for long-term stability.
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Retirement Planning
- Derek, nearing retirement, seeks advice on Roth conversions and managing his $4 million portfolio.
- He plans to retire in two years and his wife will stop working this year.
Income and Social Security
- Jill asks Derek about his retirement income goals and Social Security plans.
- Derek aims for $8,000 monthly income and plans to delay Social Security until age 70.
Advisor's Annuity Recommendation
- Derek's advisor recommends allocating 30% of his portfolio to fixed income annuities for guaranteed income.
- Derek expresses concerns, having heard negative opinions about annuities.