Know Your Money with Bronwyn Waner and Craig Finch

104. The Difference between a Life and a Living Annuity


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Unlock the secrets to securing your financial future with us as we welcome the insightful Felicia from Allan Gray. Together, we break down the complexities of living annuities, ensuring you're well-equipped to manage your retirement income. With Felicia's expert guidance, discover the nuanced differences between life and living annuities, the critical role of drawdown rates, and the stringent withdrawal rules that could impact your plans. Whether you're pondering over managing multiple annuities or strategically planning your post-retirement income, this discussion promises to enlighten and inform.

Navigate the often-overlooked terrain of living annuities in the context of life's unexpected turns, such as divorce and beneficiary nominations. Felicia shares essential knowledge about nominating beneficiaries, unpacking the tax implications that come with opting for a lump sum or continuing with a drawdown. Prepare yourself for the complexities of annuity income division during divorce, and understand the tax responsibilities both parties bear. We also touch on how emigration can influence your annuity choices, ensuring you're armed with the knowledge to make informed financial decisions.

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Know Your Money with Bronwyn Waner and Craig FinchBy Know Your Money