Is An Annuity The Right Choice For You?
Under the right circumstances, annuities offer many benefits to investors. Unfortunately, many people buy annuities without really understanding their features and drawbacks.
By Mark B. Robinson
Under the right circumstances, annuities offer many benefits to investors.
Unfortunately, many people buy annuities without really understanding their features and drawbacks, therefore not really knowing whether they are the right investment for them.
Is an annuity right for you? Getting the answers to some important questions will help you decide:
Features:
Costs and Taxes:
Surrender and Liquidity:
Purpose:
Though most financial services providers will answer these questions for you as a matter of course, it is incumbent on you to get complete, unambiguous answers to these questions before investing.
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This material is not intended to replace the advice of a qualified tax adviser, attorney, accountant and/or insurance adviser. You should consult with the appropriate professional before you make any financial commitment regarding the issues related to your situation. These projections and examples are hypothetical and do not reflect actual investment results and are not a guarantee of future results.
Mark B. Robinson is a presenter for the Investor Education in Your Community program, a series of nonprofit, non-commercial financial literacy seminars held at public libraries.
The Investor Education in Your Community program paid for placement of this article. Its views do not necessarily reflect those of WWJ Newsradio 950 or CBS Radio.