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Coronavirus Market Fears and a Variable Annuity: EDU #2015
April 15, 2020
A listener who purchased a variable annuity with a guaranteed income benefit is worried because his annuity has dropped about $90,000 in value since the stock market corrected over the coronavirus, but still offers a compelling income benefit. He is unsure if he should keep the annuity or transfer it to Vanguard where he manages his own money. Jim and Chris dissect his situation and explain to all listeners how these guaranteed income annuities work, and how their fees may conceptually be a “red herring” when viewed from the perspective of what the annuity’s intended purpose is: a guaranteed income source.
Podcast: Play in new window | Download (Duration: 1:32:05 — 42.2MB)
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