You may have heard investment advisors – or insurance advisors – talk about them in the past. In fact, earlier I described several reasons you should and shouldn’t buy annuities.
If you catch me on the street and ask if annuities are a good investment, I’d tell you the short answer is that it depends.
If you press me further, I’d tell you that most of the time they aren’t a good investment.
If you demand clarification, I’d probably just shoot you a link to this article – unless you’d like to take me to In-N-Out Burger and pick up the tab.
Here, I’m going to define annuities, show you why some people buy them, present two particular types of annuities, and show you a few alternatives you might like.