Annuities - General Observations and Links
First, fee-only financial advisors assure you there are good annuities. 403-b plans are technically annuities, but serve primarily as a plan to accumulate money for retirement if you work as a teacher, for a government agency or non-profit. Fixed rate annuities from old solid companies are fine as are many immediate or income annuities - although beware the hype and misleading claims even on these.
This section of Moneybulletin is inspired by a call from a weary consumer advocate Clark Howard after a trip across three time zones where he heard a long list of complaints from consumers who had been misled on annuities they had been lured to purchase. Clark says there is not enough objective information available on annuities, so we have decided to take on the job.
Below is a list of topics and commentary. If you have additional information or feedback, or if you can point out anything said here that is wrong, write to the host of the Money Matters radio show Mike Kavanagh - mikek@yourwealth.com and he will review your information and let us know if corrections or additions should be made.
Beware
- Variable Annuities Cautions from SEC
