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Advisor Revelations: How Annuities Can Redefine Your Retirement Journey with Jonathan Clements

Podcast Series: Advisor Revelations Podcast

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BY Jonathan Clements
October 24, 2023
 

 

As retirement age draws near, having a well-structured and enduring financial plan becomes even more important. And it's not merely about accumulating wealth. It's about transforming that wealth into a retirement lifestyle that is both comfortable and satisfying. One key element proven to make a substantial difference in the quality of retirees' lives is having a predictable income.

In this episode, David is joined by Jonathan Clements, a financial writer and the founder and editor of HumbleDollar. He is the author of personal finance books, including My Money Journey and How to Think About Money. Jonathan also sits on the advisory board of Creative Planning, one of the country's largest independent financial advisors. His 20 years of working at the Wall Street Journal and his role as director of financial education at Citigroup gave Jonathan extensive experience and knowledge of the financial industry.

Jonathan joins David to discuss how annuities can redefine investors' retirement journey. He emphasizes the importance of making consistent investment decisions to achieve financial independence. He also explores retirement planning, including the need for predictable income and the benefits of annuities.

 

Key Takeaways

  • [01:19] - The origin of HumbleDollar and its evolution.
  • [05:09] - What Jonathan's book, My Money Journey, is all about.
  • [10:04] - Risk tolerance and behavior as investors age.
  • [12:45] - The challenges of retirement and the complexity of decumulation.
  • [17:41] - Why people have a negative perception of annuities.
  • [23:01 - How advisors can have effective conversations about annuities with retirees.
  • [30:28] - The importance of spousal benefits and managing finances in old age.
  • [33:21]- Personalizing annuity allocation.
  • [38:36] - Improvements in the financial industry over the years.
  • [40:30] - Potential changes in retirement definition and workforce participation.
  • [43:08] - Jonathan's advice on how to become a better advisor.

 

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