058: A Deep Dive into Annuities with Richard Kado *

Richard Kado is the president of Genesis Financial Development. As part of the team that created the first fixed index annuity, he holds 15 patents on annuity products – more than anyone else in the marketplace – and works closely with Annexus to produce new fixed income products. At nearly 70, he’s still doing the work he loves in what he calls semi-retirement, staying very physically active, and spending lots of time with his family.

Many financial advisors have complex feelings about annuities, so it was an honor to talk with one of the creators behind these products about their unique benefits and drawbacks for so many retirees.  

I met Richard briefly at the end of an event – right before he left to go heli skiing. Today, he joins the podcast to talk about solving problems for customers instead of businesses, the advantages of giving up the greatest growth opportunities in order to get protection and security, and the common mistakes financial planners make when talking about investment products.

In this podcast interview, you’ll learn:

  • How Richard became part of the team responsible for creating the first fixed index annuity – and how the annuity business has evolved over the last 30 years.
  • Why indexed annuities have such a bad reputation, how Richard responds to the products’ harshest critics, and why it’s so important to choose the right product to get the benefits you need.
  • Whether Richard recommends income guarantees or taking systematic withdrawals in retirement – and his recommendations for people transitioning into retirement.
  • The reasons you may want to get a new financial planner – and why 99.9% of financial planners truly have their clients’ best interest at heart.
  • The crucial questions Richard thinks you need to ask about any investment product.

Inspiring Quotes

“To me, retirement doesn’t mean stopping to work. It means I get to choose when and how I work.” – Richard Kado

Interview Resources

Stocks for the Long Run 5/E: The Definitive Guide to Financial Market Returns & Long-Term Investment Strategies


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