Feb 14 2025 41 mins 4
This week's blogpost - https://bahnsen.co/3Qk01hU
Answering Your Financial Questions: Annuities, Social Security, and Roth vs. Traditional IRAs
In this episode of the Thoughts on Money Podcast, Trevor Cummings and Blaine Carver discuss various financial topics including annuities, the best time to claim Social Security benefits, and whether to fund a Roth or traditional IRA. Trevor emphasizes the importance of identifying the risks annuities mitigate, such as longevity and emotional risk. They delve into the breakeven points for claiming Social Security and the preference of positive cash flow in retirement. The conversation also simplifies the Roth vs. traditional IRA decision to whether to pay taxes now or later, carefully considering both current and future tax brackets. The episode kicks off a mini-series focused on answering common financial questions collected from clients. Tune in for practical insights and actionable advice.
00:00 Welcome to the Thoughts on Money Podcast
00:07 Weather Talk and Personal Anecdotes
01:10 Introducing the Q&A Mini-Series
01:30 The Value of Q&A Sessions
02:03 Trevor's College Experience and Teaching Style
04:42 Client Questions: Annuities Explained
07:53 Understanding Insurance and Risk
20:09 Client Questions: Social Security Strategies
28:54 Client Questions: Roth vs. Traditional IRAs
37:40 Wrapping Up and Looking Ahead
Links mentioned in this episode:
