Building a solid income plan is a foundational piece of retirement planning and there are a variety of ways to create those income streams. One product that often comes up during meetings is the annuity because of its ability to produce guaranteed income to replace your paycheck, but is it a good choice for your portfolio?

Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP® join the Money Wisdom podcast to dive into a question we received: ​a ​friend ​told ​me ​that ​I ​should ​think ​about ​an ​annuity ​for ​retirement ​income. ​What ​do ​I ​need ​to ​watch ​out ​for ​with ​these ​products ​while ​I'm ​shopping ​around? If you're considering annuities as part of your retirement strategy, this episode is worth watching.

Here’s what we discuss in this episode:

0:00 – Intro

1:29 – Today’s question

3:20 – Types of annuities

5:22 – Goals for your money

6:47 – Other considerations

 

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