Fidelity’s Annuity Push: Then vs Now
Podcast Episode Highlights:
Fidelity’s Shift on Annuities: Fidelity, along with other major investment firms like Schwab and Edward Jones, is increasingly recommending annuities for retirement portfolios—marking a significant change in their approach.
Why Annuities Are Gaining Attention: The evolving retirement landscape, market conditions, and demographic shifts make annuities a more relevant solution for many retirees.
Annuity Product Limitations: While Fidelity offers annuities from reputable companies, their selection is limited, often missing more competitive options available elsewhere.
Understanding Annuity Types: The importance of distinguishing between Deferred Income Annuities (DIAs) and Guaranteed Lifetime Withdrawal Benefits (GLWBs) to find the best fit for your retirement needs.
The Value of Custom Solutions: Every financial situation is unique, and working with an expert can uncover options that align better with your goals.
The Importance of Shopping Around: Real-world examples show how shopping for annuities beyond big firms can save money and provide better guarantees.
Fee-Only vs. Commissioned Advisors: Why fee-only advisors may not always offer the full picture of annuities and how commission-based solutions can provide cost-effective alternatives.
Keep an Open Mind: Whether you choose to work with Fidelity or another provider, understanding all available options ensures a decision tailored to your retirement goals.
Last Updated on November 16, 2024 by Bryan Anderson
