Does it make sense to get an annuity if you already have a pension? Joe answers that question in this episode of Joe Knows Retirement, as well as discusses the different types of annuities and which ones could make sense for your financial situation. He also stresses the importance of working with a licensed fiduciary instead of a financial advisor who is really just acting as an insurance salesperson.
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Timestamps:
00:00 Intro
01:03 The Midwestern Millionaire
02:07 Considerations for getting an annuity if you have a pension
04:30 Types of annuities: Variable annuity
07:13 Types of annuities: Income annuity
09:47 Types of annuities: Indexed annuity
12:40 What's the best investment tool for your situation?
14:05 The importance of working with a professional fiduciary team
Disclaimer: Since we do not know your specific situation, none of this information can serve as tax, legal, insurance, or financial advice, and may be outdated or inaccurate. The information comes from sources believed to be reliable but cannot be guaranteed. This content is prepared for educational purposes only. If you need advice, please contact a qualified CPA, attorney, insurance agent, financial advisor, or the appropriate professional for the subject you would like help with. Peak Retirement Planning, Inc. is a Securities and Exchange Commission registered investment adviser and able to offer advisory services in Ohio and in other states where registered or exempt from registration.