How to Set Up Annuities

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When setting up annuities, identify the annuity company to buy an annuity from, figure out when to get the money back, and tell the company what to do with the money. Think about the beneficiary of the annuity when setting up annuities with help from a portfolio manager in this free video on money management and personal finances.

Part of the Video Series: Investing & Money Management
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Video Transcript

Have you decided that you want to put your money into an annuity? Hi, this is Roger Groh at Groh Asset Management. Today we're here to talk about setting an annuity up. Well, there are a few simple steps to follow. Number one, you have to identify the annuity company that you would like to buy the annuity from. Number two, you have to figure out when do you want your money back. Is it in five years or ten or thirty or fifty? It's up to you, you can pick and choose. Third thing is you're going to tell them what to do with your money. Do you want it in CD or treasuries or stock or real estate or a blend or whatever. And last but not least, you need to think about the beneficiary of the annuity because if you die, there maybe significant tax benefits to name in the correct beneficiary. Talk with your financial planner or tax accountant or attorney about that. I'm Roger Groh at Groh Asset Management; thank you very much for spending time with me.


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