Are Multi-Year Guaranteed Annuities (MYGA) A Good Investment?

Video Description

Today we are going to take a deep dive into MYGAs--multi-year guaranteed annuities. Resources Mentioned in Video: Blueprint Income: https://www.blueprintincome.com/ StantheAnnuityMan: https://www.stantheannuityman.com/myga-quote?state=AL&years=5 MYGA Rates in 2022: https://web.archive.org/web/20220114182843/https://www.stantheannuityman.com/ AM Best FSR: https://risk.nv.gov/uploadedfiles/risknvgov/content/Contracts/AMbestGuideToFinancialStrengthRatings.pdf Bogleheads MYGA Thread: https://www.bogleheads.org/forum/viewtopic.php?t=322973 Why MYGA Rates Are Higher Than CD Rates: https://www.kiplinger.com/retirement/annuities/604072/why-fixed-rate-annuities-pay-more-than-bank-cds When Insurers Go Under: https://www.kiplinger.com/article/retirement/t003-c000-s004-protect-annuity-from-a-broke-insurer.html Insurer Insolvencies: https://www.nolhga.com/factsandfigures/main.cfm/location/insolvencies/ Timestamps 0:00 - Introduction 1:28 - Interest rates/risk 6:20 - Stan the Annuity Man 9:21 - Difference between a CD and MYGA 11:32 - How secure are they? 14:43 - Interest rates and rating change 16:57 - Two other resources 18:22 - Recap *Join the Newsletter. It's Free:* https://robberger.com/newsletter/?utm_source=Rob+Berger&utm_medium=ATF+Link&utm_campaign=Newsletter&utm_id=YouTube *Financial tools I use:* *I track all of my investments, performance, fees, and asset allocation with Empower. It's Free:* https://robberger.com/empower *My retirement plan comes from New Retirement, the most robust retirement planner available at a reasonable cost:* https://robberger.com/new-retirement *I used Capitalize for my last 401(k) rollover. They did all of the work, and it's Free:* https://robberger.com/capitalize *My budgeting tool of choice is Tiller. It downloads all your banking data to Excel or Google Sheets:* https://robberger.com/tiller *We save and invest our credit card rewards. Here are some of my favorite credit cards:* https://www.allcards.com/best-credit-card-offers/?utm_source=YouTube&utm_medium=Video+Links&utm_campaign=tools *My Book (Retire Before Mom and Dad):* https://amzn.to/4d9qbhA #myga #investing #robberger ABOUT ME While still working as a trial attorney in the securities field, I started writing about personal finance and investing In 2007. In 2013 I started the Doughroller Money Podcast, which has been downloaded millions of times. Today I'm the Deputy Editor of Forbes Advisor, managing a growing team of editors and writers that produce content to help readers make the most of their money. I'm also the author of Retire Before Mom and Dad--The Simple Numbers Behind a Lifetime of Financial Freedom (https://amzn.to/3by10EE) LET'S CONNECT Youtube: https://www.youtube.com/channel/UC9C17-OMxa-7oRSaCtztObw?sub_confirmation=1 Facebook: https://www.facebook.com/financialfreedomguy/ Twitter: https://twitter.com/Robert_A_Berger DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. Your investment and other financial decisions are solely your responsibility. It is imperative that you conduct your own research and seek professional advice as necessary. I am merely sharing my opinions. AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning at no cost to you I earn a commission if you click through and make a purchase and/or subscribe. However, I only recommend products or services that (1) I believe in and (2) would recommend to my own mom.