Why I Changed My Mind About Annuities After 20 Years

For almost twenty years, HerMoney CEO Jean Chatzky was an annuity denier. In 2006, when her mother's financial advisor suggested putting some of her mom's money into one, Jean told him, flatly, to forget it. This week, she tells the full story of what changed her mind. Jean walks through the research that convinced her — retirees with annuitized income spend meaningfully more than retirees with similar wealth who don't have it, in some cases twice as much — and unpacks the psychology behind why a paycheck feels safer to spend than drawing down a balance on your own.  Want a signed copy of The Forever Paycheck? Leave the book a review on Amazon, screenshot it, and email it to mailbag@hermoney.com to be entered to win. Learn more about your ad choices. Visit megaphone.fm/adchoices