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Episode 2783:
Jeff Rose explains why annuities, typically seen as suitable for older individuals, may not be the best investment for young people due to their limited growth potential and penalties for early withdrawal. While annuities might provide some benefits within a diversified portfolio, Rose emphasizes the superior advantages of Roth IRAs and 401(k)s for young investors.
Read along with the original article(s) here: https://www.goodfinancialcents.com/should-you-buy-annuity/
Quotes to ponder:
"One of the best things that my mom ever did for me as a young adult was to start an investment strategy for me."
"Why does a 24-year-old need a fixed annuity? Turns out it was a very legitimate question."
"If you’re young and don’t mind some fluctuation in your investments, it’s hard for me to make the case that an annuity makes sense."
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