Why is everyone talking about annuities right now?

Colby and Patrick sit down and talk the good and bad about annuities.  

Ultimately, the most important outcome is that you reach your retirement goals. On the surface, annuities may seem like a safe bet, especially during times of market volatility.  However, they often have significant drawbacks that aren’t readily apparent to the average investor.  Before committing yourself to an annuity, be sure you ask all the right questions and understand all the details.

Welcome to quiver financial news, today we want to cover annuities.  We will talk about the good the bad and what things you should watch out for.  We are focusing on annuities right now because if you haven’t already.  You will start to see a major push from individuals that only sell annuities because of the volatility in the markets and the rise in interest rates.  This instrument will start to look more attractive.  So, we wanted to draw your attention to this topic so that you can watch out for the tricks that are used to entice you.  I am joined today with Colby Mcfadden, CEO of quiver financial and a man that has sold a few annuities in his day.  Welcome Colby.

First lets quickly define an annuity.  An annuity is a contract between you and an insurance company in which you make a lump-sum payment or series of payments and, in return, receive regular disbursements, beginning either immediately or at some point in the future.

Colby what does this general definition mean for an investor.

            Types of annuities: Fixed, indexed, variable.

1. What is a premium bonus and how does it work or not work?
2. Why do annuities become more advantages in a rising interest rate environment?
3. What is a renewal rate? And why should investors pay close attention to this?
   1. So Clients will also start to see a lot of MYGA in ads. Or Multi year guarantee annuities right?
4. What should people do that have an old annuity, say 7 or 10 years old?
5. Annuities have evolved considerably and they offer more and more flexibility but that flexibility comes at a cost in the form of a rider.
   1. What are some ways I can take payments from my annuity?
6. What type of expenses do annuities have?
7. What is a surrender charge. Am I able to take any money out of my annuity early without hitting this fee?
8. Let's talk about performance. These are sold because investors are told you cant lose money but what are the pitfalls to this if any and what are they upside risks?
9. What impact can inflation have on an annuity?

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