In a contest for the most confusing investment, the Annuity would likely take first place. Even people who have them don’t always understand them. Steve Moore and Rob West explain the different types of annuities (Immediate vs. Deferred) and break down the variations of each category (Fixed, Indexed, or Variable). They also answer the question of if and when an annuity is ever right for you.
Next, they answer your questions at (800) 525-7000 and Questions@MoneyWise.org about the following:
- Do you know anything about an online bank called Robin Hood that gives 3% interest?
- If you cosigned a Sally Mae educational loan for your brother and after some payment problems, they've offered a temporary interest rate reduction, is that normal?
- If you see offers to get a store credit card and save 10% on the purchases, is it worth considering?
- If you owe to a school that has been shut down because of fraud, do you have any recourse since the school lied about things?
At the end of the program, Steve mentioned the book, Navigating the Mortgage Maze, by Dale Vermillion. You’ll find it right here on our website (MoneyWise.org). You can connect with a MoneyWise Coach or access our other books and many free helpful resources. You can also find us on Facebook (MoneyWise Media) and join the conversation. Thanks for your prayerful and financial support that helps keep MoneyWise on the air. And if you'd like to help, just click the Donate tab at the top of the page.