004: What is a Multi-Year Guarantee Annuity (MYGA)?
- Author
- The Annuity Man
- Published
- Tue 15 Oct 2019
- Episode Link
- http://TheAnnuityMan.com
In this episode, The Annuity Man discusses:
- What is a MYGA and how does it work
- The benefits and limitations of a MYGA
- Differences and similarities between a MYGA and a CD
- How to ladder MYGAs to take advantage of future interest rates
Key Takeaways:
- MYGAs (Multi-Year Guarantee Annuities) are a fixed rate annuity and are the annuity industry’s version of a CD
- MYGAs usually offer a higher rate than CDs if the duration is 3+ years out
- MYGAs & CDs can be combined for fixed rate laddering strategies
- Some MYGAs allow you to peel off the interest every month for additional income needs
"Multi-Year Guarantee Annuities (MYGAs) are the annuity industry’s version of a CD." — The Annuity Man
Connect with The Annuity Man:
Website: TheAnnuityMan.com
Email: [email protected]
Book: MYGA Owner’s Manual
YouTube: Stan The Annuity Man
