Financial Mailbag: Annuities, Mortgage Debt, and Spousal Roth IRAs

Podcasts Retirement Planning Social Security Planning

As we close out the year, we wanted to take the chance to answer a bunch of financial questions that we’ve received. It’ll give us the opportunity to cover a wide range of topics that will hopefully address an area of planning you’ve also been curious about.

Some of the questions we’ll tackle include the complexities of annuities, mortgage decisions in retirement, and the intricacies of spousal Roth IRAs. Ryan provides guidance on how to avoid financial pitfalls and make informed decisions as you approach retirement. And before we get into these great questions, we’ll share a cautionary tale about a retiree who fell victim to an investment scam, losing nearly three-quarters of a million dollars.

Here’s what we discuss in this episode:

0:00 – Intro

0:36 – Retirement scam story

7:30 – Annuity withdrawal

11:07 – Paying off a mortgage

13:54 – Spousal Roth IRA

17:02 – Mortgage tax deduction

18:13 – Income planning

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Investment advisory services offered through Brookstone Capital Management, LLC (BCM), a registered investment advisor. BCM and Cravitz Financial & Insurance Solutions are independent of each other. The content of this website is provided for informational purposes only and is not a solicitation or recommendation of any investment strategy. Investments and/or investment strategies involve risk including the possible loss of principal. There is no assurance that any investment strategy will achieve its objectives. Registered Investment Advisors and Investment Advisor Representatives act as fiduciaries for all of our investment management clients. We have an obligation to act in the best interests of our clients and to make full disclosure of any conflicts of interest, if any exist. Please refer to our firm brochure, the ADV 2A item 4, for additional information. Information provided is not intended as tax or legal advice, and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Insurance products and services are not offered through BCM but are offered and sold through individually licensed and appointed agents. CA Insurance License #0C86000.

Any comments regarding safe and secure investments, and guaranteed income streams refer only to fixed insurance products. They do not refer, in any way to securities or investment advisory products. Fixed Insurance and Annuity product guarantees are subject to the claims-paying ability of the issuing company and are not offered by Brookstone Capital Management. Index or fixed annuities are not designed for short term investments and may be subject to caps, restrictions, fees and surrender charges as described in the annuity contract. Ryan Cravitz and/or Cravitz Financial and Insurance Solutions are not affiliated with or endorsed by the Social Administration or any other government agency.