Listen "What is a 401k Annuity?"
Episode Synopsis
BlackRock has started to offer something in certain 401(k)s that’s rather new. The Wall Street Journal reports that five employers have signed up with the investment giant to offer annuities in their plans. In theory, that would allow workers to receive retirement payments for the rest of their lives. Could this savings approach turn into a trend? How do you know if the annuity they’re offering is right for you? The retail chain known for selling nearly everything for a buck-or-less, is warning that rising costs will force it to sell more products for $1.25 or $1.50! That may not sound like much but – if you think about it – that’s a 25-to-50% price hike! You’re known for designing retirement strategies – are there any that might help us maintain the value of our nest egg, over time? See omnystudio.com/listener for privacy information.
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