What is an Annuity?
One of the great uncertainties in retirement is how long your savings will need to last. So, could annuities provide an answer?
On this episode of the Friends With Money podcast, Money’s Tom Watson is joined by Aaron Minney, head of retirement income research at Challenger, to unpack everything annuities.
00:00 Introduction
00:50 What are annuities?
01:33 Understanding how annuities work
04:40 Annuities vs account-based pensions
06:32 Pros and cons of annuities
09:02 Which retirees could annuities suit?
13:23 Sequencing risk and annuities
16:42 Perceptions and awareness
20:20 Conclusion
#friendswithmoney #tomwatson #aaronminney #annuities
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