MoneyWise with Rob West & Steve Moore

Annuities 101

January 22, 2019

In a contest for the most confusing investment, the Annuity would likely take first place.  Even people who have them don’t always understand them. Steve Moore and Rob West explain the different types of annuities (Immediate vs. Deferred) and break down the variations of each category (Fixed, Indexed, or Variable). They also answer the question of if and when an annuity is ever right for you. Next, they answer your questions at (800) 525-7000 and Questions@MoneyWise.org about the following:

 

·      I read an article on line talking about a new bank called Robin Hood that gives 3% interest. Do you know anything about them? If not, what is a resource we can use to evaluate banks?  

·      I cosigned a Sally Mae educational loan for my brother. He became ill recently and has not been able to pay. They are offering me a temporary interest rate reduction. Is that normal?

·      At various stores, I see offers to get the store credit card and save 10% on the purchase. Is it worth it?

·      I went to a private university years ago. They charged me $19,000 for the program, but other schools charge only $1,000 for the same program. The school has since been shut down because of fraud. I still owe all of the money of my student loans. Do I have any recourse since the school lied to me? 

 

At the end of the program, Steve mentioned the book, Navigating the Mortgage Maze, by Dale Vermillion. You’ll find it on our website at MoneyWise.org.  While you’re there, you can connect with a MoneyWise Coach or access our other books and many free helpful resources.  You can also find us on Facebook (MoneyWise Media) and join the conversation. Thanks for your prayerful and financial support that helps keep MoneyWise on the air.  And if you'd like to help, just go to the website and click the Donate tab at the top of the page.

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About MoneyWise

MoneyWise is a daily radio ministry of MoneyWise Media. Hosted by Rob West and Steve Moore, the program offers a practical, biblical and good-natured approach to managing your time, talents and resources.

About Rob West & Steve Moore

Rob West is the host of the nationally syndicated radio programs MoneyWise and The MoneyWise Minute heard on more than 900 radio outlets each day. Rob also serves as the President of Kingdom Advisors, an international community of financial professionals who are specialists in delivering biblically wise financial advice. Rob serves as primary spokesperson for the organization and gives leadership to organizational strategy.

A radio veteran, Rob previously co-hosted a live, call-in, financial radio program with his father from 1998 through 2008 at WAFG, Fort Lauderdale, FL. Rob has dedicated his professional career to working at the intersection of faith and finance having led a successful faith-based financial services firm, serving as the host of several radio programs on a biblical approach to finance, and speaking frequently on the topic. Rob and his wife, Julie, live in Marietta, GA with their four children.


Steve Moore
joined Larry Burkett at Christian Financial Concepts in 1985. The radio network grew from two hundred to over twelve hundred stations in just a few years with "How to Manage Your Money and Money Matters" being recognized with a number of national awards. Steve remained as co-host and Vice-President of Broadcasting through the CFC/Crown merger in 2001 and Larry Burkett’s death in 2003. He then hosted the Money Matters program with Howard Dayton until 2007.

In the spring of 2011, Steve and Howard Dayton felt the time was right and that God was directing them to once again start a daily radio call-in program that would help people find practical and biblical ways to manage their resources.

 

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