Re: Hard Lesson on Annuities
I would like to hear anyone who doesn't have a commission coming from the sale of an annuity actually state the benefit of owning an annuity. I wouldn't hold my breath! I don't think there is one legitimate reason to buy an annuity versus a good financial plan.
Basically my plan to not outlive my savings is to put my retirement money away into risk free investments and to withdraw only what it earns or less. This may be impossible if you have too little money initially to invest, but if this is the case an annuity will not rescue you anyway!
Avoid annuities like the plague IMHO.
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