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Purchasing annuities can be confusing, and on top of that, they’re often an emotional decision.
In this episode, Nicole Romito breaks down annuities with Steve Merdinger, ChFC®, CFP®, Partner at Private Vista. They give an overview of points to consider and things to be aware of before purchasing them.
Steve discusses:
- What fixed and variable annuities are
- The importance of understanding what you’re buying
- The general prices of different annuities you can anticipate
- The pros and cons of annuitization and what the exclusion ratio is
- Why purchasing an annuity tends to be an emotional decision
- How annuity contracts are structured
- And more