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When are annuities an appropriate choice?
In this episode we explore annuities – a financial product you’ve likely heard of. But what are annuities exactly? What purpose do they serve, when is an annuity a good choice for including in your financial plans, and what are the downsides?
Our guest Zach Hurst, CFP, CLU, will help us take a look at all the angles so you can have a knowledgeable opinion instead of a knee-jerk reaction when you hear this much-talked-about term.
Zach is Director of Financial Planning for Valmark Financial Group in Akron Ohio, where he’s responsible for the design, marketing and implementation of Valmark’s unique financial planning processes, including asset accumulation, retirement income distribution, and legacy planning.
Listen in as we explore:
- 0:00 – The Prosperity Report Introduction
- 1:15 – What is an Annuity?
- 2:50 – Why Do Some People Tune-Out When They Hear Annuity?
- 4:12 – Different Types of Annuities in the Market
- 5:50 – Who Are Good Candidates for an Annuity?
- 7:43 – Downsides of Buying an Annuity
- 10:15 – How Can an Annuity Compliment Your Financial Plan?
- 12:15 – Are Annuities Right for Everyone?
- 15:26 – What Would You Say To an Advisor Who Doesn’t ‘Believe’ in Annuities?
About the FDP Prosperity Report
Prosperity is more than a number. It's the power to shape what is possible for you, your family and your heirs. On the Prosperity Report you can learn ideas for building wealth, safeguarding it, and translating it into true prosperity with insights from actual business owners and financial professionals.
