Annuities are a good decision for maybe 1% of the retired population. Only those who can't manage their money at all and will spend every dime if they have it available. Then maybe an annuity would work for them because it would parse out the money in a slow even way. Annuities only really benefit those that sell them. The list of pro's is very short and the con's list is very long.
When you are so old and feeble that you can't write a check or count money then and only then you might want to consider an annuity. And even then I emphasis the word might as I believe there are better alternatives.
Parady was mentioned as providing fun along with their full page ads every day in the paper. Think about how they can afford those perks and all that advertising. Commissions on annuities are high and those selling them make lots of money.
There are lots better ways to invest your money with a greater return that is much safer and more diversified.
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Life is to short to drink cheap wine.
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