Multi-Year Guarantee Annuity Explained (MYGA Explained) | Financial Advisor Explains
Financial Advisor Don Anders explains what a multi-year guarantee annuity is and how multi-year guarantee annuities work. Sometimes multi-year guarantee annuities are called MYGA. A multi-year guarantee annuity works very similarly to a CD and it gives the investor a fixed interest rate over a certain number of years, but there are certain Pros and Cons of MYGA's over CD's and Don Anders gets into those differences in this video.
0:00 Intro
0:17 Rundown on Annuities
0:38 Multi-Year Guarantee Annuity: What is it?
1:16 The Good and Bad of MYGAs
2:23 Con: It's Still an Annuity
3:41 Pro: They Give Free-Outs
4:24 Look Into This Option, Not All Annuities are the Same
4:43 Be Wary of the Maturity Date
5:24 Final Thoughts on MYGAs
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