Things we do NOT recommend - and why! (part 1)

Episode 47

Description
The Money PIG Podcast host, Reid Trego,  and CERTIFIED FINANCIAL PLANNER™ professional Justin Pitcock to discuss things that they do not recommend in terms of investments. They specifically focus on annuities and whole life insurance. 

They explain that annuities can be appropriate for certain individuals, such as widows who are concerned about running out of money in retirement. However, they caution against annuities for most people, as salespeople often push them aggressively and earn high commissions from selling an annuity to them. Additionally, the fees associated with annuities can limit their growth potential and underperform other investment options. 

As for whole life insurance, they argue that it is often sold to people who don't necessarily need it or would benefit more from term life insurance. The savings account aspect of whole life insurance may seem attractive but isn't always the best financial decision.

If you want an expert who can give you sound advice and help you navigate how to best invest your wealth and plan for your retirement reach out to us to schedule a quick call. One of our CFP® professional wealth advisors would love to discuss your individual goals and options with you. The first step in our process is to schedule a free 15-minute intro call with our Goodwin Investment Advisory consultant here. 

The Money PIG podcast is hosted by Reid Trego.  Goodwin Investment Advisory is a Registered Investment Advisory firm regulated by the Securities and Exchange Commission in accordance and compliance with securities laws and regulations.  Goodwin Investment Advisory does not render or offer to render personalized investment or tax advice through the Money PIG podcast.  The information provided is for informational purposes only and does not constitute financial, tax, investment or legal advice.