Simply Money: Unmasking the realities of annuity sales and job hopping risks.
On this week’s Best of Simply Money podcast, Amy and Steve delve into the world of annuity sales and the controversial practices surrounding them. As the labor department pushes for a fiduciary standard in the insurance industry, a senator's recent report sheds light on how conflicted advice can cost retirement savers up to 20% of their income. They explore the implications of this report and discuss the hidden incentives that could be influencing a financial advisor's recommendations.
They also discuss the potential long-term financial dangers of frequent job hopping. With many workers changing jobs for better pay, they highlight the importance of keeping track of your 401(k) contributions to avoid losing momentum in your retirement savings.
Join us for practical advice to help you navigate the complexities of financial planning and make informed decisions for your future.
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