#020 - All about annuities, Part 1: Introduction and MYGAs

This podcast introduces annuities and focuses on multi-year guaranteed annuities (MYGAs). It covers the basics of annuities and the details of MYGAs. The speaker discusses the different types of annuities, including immediate annuities and deferred annuities. They also explain how interest is earned on annuity contracts, such as fixed annuities, variable annuities, index annuities, and buffer or structured annuities. The chapter explores fee-only advisors and annuity sales, highlighting the importance of understanding surrender periods and charges. It also discusses annuity fees, tax implications, and the distribution and taxation of annuity income for heirs. Finally, it provides guidance on finding reputable insurers and multi-year guarantee annuity rates.