Hi there! You new here? We love that you found our little corner of the web. Here at Debt Free Guys, we’re all about helping people experience the freedom of becoming debt free! Would you love to feel that relief? After reading our article below, see how we can help you more here.
What are annuities?
LGBTQ people are more likely to spend retirement alone and with fewer resources. Here’s why annuities may be a great solution for many queer folks. Free up more money to fund your annuity by paying off debt with the free 7-Step Credit Card Debt Slasher here.
Why LGBTQ folks should consider getting annuities
Older LGBTQ folks are twice as likely to be single and live alone and four times less likely to have children than the general population. So, it’s no surprise that outliving our income is one of our top concerns.
Fortunately, annuities can protect us from running out of money in retirement.
But what kind of annuity should you buy? How much do they cost? And what are the pros and cons of saving for retirement with an annuity?
On this episode of Queer Money®, we explain how annuities function as an insurance contract (not an investment) and what differentiates immediate from deferred annuities.
We walk you through the life phases of an annuity, describing what factors influence the cost of an annuity and why we recommend working with a fee-based agent rather than a commission-based one.
Listen in for insight on using riders to make an annuity specific to you and learn the top three reasons why people choose to make annuities a part of their retirement savings plan.
Hear all about annuities on Queer Money®:
Topics covered on annuities
- How queer folks are more likely to age alone and less likely to have children
- How annuities function as an insurance contract designed to guarantee income
- Why the LGBTQ community worries about outliving our income
- What differentiates immediate annuities from deferred annuities
- The accumulation and payout phases in the life of an annuity
- How a living benefits rider differs from a death benefits rider
- What factors influence the cost of an annuity and what fees you might see on your contract
- Why we recommend working with a fee-based agent vs. a commission-based one
- The top 3 reasons why people make annuities a part of their retirement plan
Resources from this episode about annuities
- Prudential’s 2018 Financial Wellness Census
- SAGE
- 7-Step Credit Card Debt Slasher
- MassMutual 2017 LGBTQ Financial Security Study
- CreditWise
- Debt Free Guys on Facebook
- Debt Free Guys on Twitter
- Debt Free Guys on YouTube
- Queer Money Facebook Group
- Queer Money on Instagram
- Subscribe on iTunes
- Email q[email protected]
Watch below rather than listen to this Queer Money®:
How can you get more Debt Free Guys and Queer Money®?
✅ Subscribe to the Queer Money® podcast here @ debtfreeguys.com/qm
✅ Please give this video a thumbs up
✅ Please subscribe to this channel
✅ Set notifications so you never miss a QMFU