Not Your Grandma’s Annuity: Scam or Pension? - E26
Forget everything you thought you knew about annuities. Michael and Brady unpack the modern annuity revolution, how today’s annuities have evolved from the high-fee, complex products of the past into strategic financial tools designed to reduce retirement anxiety and boost income certainty. From personal pensions to market-buffered investment strategies, they explore the real-world applications and common misconceptions surrounding annuities. Whether you're decades away from retirement or planning to exit the workforce soon, this episode delivers critical insights to help you confidently build a purpose-driven retirement income plan.
Key Timestamps:
(00:00) - The decline of pensions and rise of 401(k)s
(09:00) - Employer vs. employee retirement risk
(11:00) - Emotional benefits of guaranteed income
(15:00) - What exactly is an annuity?
(21:00) - When income-focused annuities make sense
(23:00) - Growth-focused annuities for young investors
(25:00) - The role of registered index-linked annuities (RILAs)
(32:00) - RILAs vs. traditional fixed income
(38:00) - Replacing income gaps with personal pensions
(45:00) - Balancing investment and insurance strategies
Key Topics Discussed:
Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, The Dave Ramsey Show, BiggerPockets Podcast, The Motley Fool Money Show, We Study Billionaires, ChooseFI, Afford Anything, Modern annuities explained, Retirement income strategies, Guaranteed lifetime income, Personal pension planning, Annuities vs 401(k) comparison
Mentions:
Website: https://www.genesiswealthplanning.com/
Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/
Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/
Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta
This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or Genesis Wealth Planning and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value.
Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. Genesis Wealth Planning is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 7237198.13. Expiration 8-27.
