Myth Busters, Re-Wire Your Annuity Understanding

There’s always an element of truth to a myth…Ben and Seth break down five common myths people believe when it comes to investing in annuities. Listen into this episode of Money on Tap and figure out the truth behind each myth and why putting your money into annuities may be the best thing you ever did for your retirement.Is it too late to fix my retirement at 50?No — the 50s are the catch-up years by design. Catch-up provisions let you contribute above the standard limits to 401(k)s and IRAs, the HSA offers triple tax advantages for future healthcare costs, and a backdoor Roth can build a tax-free bucket even if your income is too high for direct contributions. Pair those with a segmented "bucket" strategy — instead of retreating to CDs and cash — and most late starts can still be rescued. The first step is knowing your income need, not chasing a number.