In the following video series, Professor David Littell and noted retirement speaker and author, Tom Hegna, discuss the topic of income annuities and how they contribute to a retiree’s income and happiness throughout retirement, as well as how they mitigate any potential risk that may surround one’s retirement income. This segment also highlights the many benefits of income annuities for consumers while tackling common myths that surround annuities.
In the video “Impact of Guaranteed Income on Retirement Happiness,” Hegna explains the correlation between guaranteed income and retirement satisfaction. People with guaranteed income and fixed annuities tend to be the happiest people in retirement. The next video, “Addressing Advisor’s Objections to Annuities,” acknowledges the common hesitancy that advisors have when it comes to annuities. In “Addressing Consumer’s Objections to Annuities,” Hegna responds to negative stigmas surrounding income annuities. Though he does admit that some “bad annuities” do exist, he also explains that it is only these bad ones that get blasted to consumers in the media. In simple terms, Hegna compares refusing income annuities to refusing one’s Social Security or pension checks – quite a hard bargain.
Read more about the videos on The American College’s blog.