December 11, 2021
- Taxes and a life insurance windfall. 05:59
- What should I do with an annuity? 12:10
- Is saving 42% of my income enough? 17:00
- Distributions from a 401(k) at age 55. 31:29
- Should I buy investment insurance? 43:30
Elusive financial confidence, taxation on life insurance, and liquidating a large annuity.
On this week’s Money Matters, Scott and Pat debate what it means to have financial confidence, before advising a caller about paying income tax on a life insurance windfall. A retiree has $220,000 invested in an annuity and wants guidance about how to keep his tax obligation low. And, finally, a Salt Lake City man wants to know if saving 42% of the family income will be enough to fund retirement.
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