Should You Buy A Fixed-Income Annuity For Retirement?
Congratulations, you’ve just retired.
You worked hard to save your money.
But now you’re worried that a drop in the stock market might wipe out your savings.
An insurance salesperson says, “I can give you a guaranteed, fixed monthly payout.
Nothing the stock market does will affect your future income.”
Should you take the offer? After all, it sounds great.
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Should You Buy A Fixed-Income Annuity For Retirement?
Plenty of people shudder when they hear the word, “annuity.” Many financial advisors sell them as if they’re life preservers. But they’re usually filled with holes. Variable annuities, for example, are widely oversold. An advisor might croon, “These products guarantee that you won’t lose money. …