Quote:
Originally Posted by biker1
I personally neither buy into the concept nor choose to characterize people I don't know as possibly suffering from a gambling issue or possibly being too incompetent to manage their money simply because they have elected to use an annuity. I know several people who don't suffer from either characterization and have an annuity as part of their overall strategy (which also includes mutual funds, ETFs, individual stocks, cash, and bond funds). Again, they don't personally float my boat but I do accept that there is a place for them in a well thought out strategy.
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I guess that is how things are taken out of context. I NEVER characterized the folks who buy annuities as gamblers or incompetent. I did say those are the only type of people who SHOULD be using annuities. Huge difference.
To each their own. I personally believe that almost no one should be using this investment vehicle. There are so many better investment strategy's available. And I also consider a single annuity which most people who buy them have, to be zero diversification for that part of their investments. I guess we just have to agree to disagree.