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Are annuities a boon or a bane for your portfolio? When is it wise to hold onto an annuity, and when might it be time to let go?

In this podcast episode, we talk through annuities with Vector senior wealth advisor Mike Nesheim. An annuity is a financial product issued by an insurance company, generally designed to create an income stream. Periodically, clients come to Vector with one or more annuities as part of their overall portfolio.

While everyone’s portfolio and financial situation is unique, there are some broad takeaways when it comes to annuities and wealth management. We discuss evaluation of annuities and talk through factors to consider when aligning your financial plan with your goals.

Watch or listen to the full discussion or dial in on specific points to learn more.

Listen to this episode

Time Codes … Chapters:

00:04 … Types of Annuities

Annuities come in assorted flavors. We discuss some differences.

00:38 … Evaluation of Annuities and Benefits

Considerations of maintaining vs surrendering annuities.

01:20 … Analyzing Annuities for Clients

Determining the best course of action for a client.

02:30 … Reliability of Annuity Companies

What backs the guarantees of annuity benefits?

These topics are meant to help start a conversation around planning for retirement and managing wealth over time.

Let us know if this is something you are thinking about or if you know someone who may have a question about their annuity. At Vector, our team will review the terms of annuities (held or considering) and provide options and context for clients.

This discussion was with Vector’s Mike Nesheim, CFP® and business development officer Scott Rose.

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