Annuity Awareness Month: Stay Away from Annuities!
In light of Annuity Awareness Month in the financial services industry, it’s important to examine the critical perspective on annuities. While fixed annuities may attract conservative investors, other types such as indexed and variable life annuities primarily serve the interests of the providers and financial advisors who sell them. This is due to substantial commissions and extended lock-in periods associated with these products.
Annuities often cap gains, eliminating the benefits of good years, while ensuring only a minimum return. When considering inflation, this can result in actual losses over time. It’s crucial for investors to be aware of these potential pitfalls. To learn more about annuities, click here to download our free ebook that offers more detailed insights into the drawbacks of annuities.
Casey Smith
President, Wiser Wealth Management
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