Answering Your Questions - Part 1
Answering Your Financial Questions: Annuities, Social Security, and Roth vs. Traditional IRAs
Answering Your Financial Questions: Annuities, Social Security, and Roth vs. Traditional IRAs
This week's blogpost - https://bahnsen.co/3Qk01hU
Answering Your Financial Questions: Annuities, Social Security, and Roth vs. Traditional IRAs
In this episode of the Thoughts on Money Podcast, Trevor Cummings and Blaine Carver discuss various financial topics including annuities, the best time to claim Social Security benefits, and whether to fund a Roth or traditional IRA. Trevor emphasizes the importance of identifying the risks annuities mitigate, such as longevity and emotional risk. They delve into the breakeven points for claiming Social Security and the preference of positive cash flow in retirement. The conversation also simplifies the Roth vs. traditional IRA decision to whether to pay taxes now or later, carefully considering both current and future tax brackets. The episode kicks off a mini-series focused on answering common financial questions collected from clients. Tune in for practical insights and actionable advice.
00:00 Welcome to the Thoughts on Money Podcast 00:07 Weather Talk and Personal Anecdotes 01:10 Introducing the Q&A Mini-Series 01:30 The Value of Q&A Sessions 02:03 Trevor's College Experience and Teaching Style 04:42 Client Questions: Annuities Explained 07:53 Understanding Insurance and Risk 20:09 Client Questions: Social Security Strategies 28:54 Client Questions: Roth vs. Traditional IRAs 37:40 Wrapping Up and Looking Ahead
Links mentioned in this episode:
Trevor is a Partner, Director of our Private Wealth Advisor Group, and Author of Thoughts on Money.
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