Buyer beware. Annuities are not suited for every retiree. Typically, but not always, someone concerned about outliving their money would be a good candidate for an annuity. They carry significant fees and restrictions. I would want to do an assessment before I recommended a particular type.
If you are looking at one as an investment vehicle, I believe you could do much better without an annuity.
Annuities are good for people that have a hard time controlling their spending, or have a history of longevity in their family. With an annuity, you have a reliable income stream. I rarely recommend them to my clients, however.
Most clients who are looking at an annuity already have their retirement funds in a tax sheltered account. For me, it makes more sense to keep it there. This allows the client to grow their money in the market at what is most often a higher rate. Client's also have complete access to their money in case o...
Maybe--you can only find the correct answer to that question by doing a thorough analysis of what your options are and what retirement assets you have to work with.
Your money has a job to do. After completing a thorough retirement income plan review you can then determine what you need it to do, and when.
The right kind of annuity can be a powerful addition to your overall plan. The key is making sure that you are making the most efficient use of your retirement dollars and getting the best bang for your buck.