Retirement income strategies: life annuities vs living annuities in today's market

In this episode of "My Money, My Lifestyle," Maya Fisher-French has a thought-provoking discussion with financial expert Hugh Hacking of Momentum Corporate about the recent interest rate cuts and their implications for retirees and investors. 

With prime rates dropping from 11.75% to 11%, the conversation unpacks how these changes affect both life and living annuities.

This episode explains how annuities work, how interest rates influence their pricing and attractiveness as well as the differences between life and living annuities. 
Listeners will gain insights into the balance between guaranteed income and the risks associated with living annuities, including the potential for running out of funds during retirement.

The episode also highlights the importance of blending different annuity types to create a sustainable retirement income strategy. Hugh shares practical advice on how retirees can optimize their portfolios, manage costs, and ensure they have enough resources to cover unexpected expenses.
Join Maya and Hugh as they unpack these critical financial concepts, providing listeners with the knowledge to make informed decisions about their retirement planning.