Quote:
Originally Posted by retiredguy123
The tone may be questionable, but I agree with the message. People who sell annuities are not doing their clients any favors. Rather, their purpose is to enrich themselves at the expense of their clients. They do this by presenting inaccurate, distorted, and dishonest information about the product they sell. They have no right to call themselves financial advisors or to seek the trust of clients.
|
You are wrong. Not ALL annuities are bad. We have a 4% 5-year FIXED annuity. We paid ZERO fees. No market exposure. Avoids probate. Grows tax deferred unless I choose to take the interest annually (or monthly).
Should all of someone's money be in fixed annuities, of course not. But it's a conservative option that can serve a purpose in anyone's retirement portfolio.