When people seeking guaranteed income turn to annuities, they are gaining security … but they need to realize what it’s costing them. Surrender charges, fees and earnings caps all come into play. Getty Images Annuity sales are escalating, with people looking to roll over retirement savings accounts or other assets into an ongoing income stream. Variable annuities appeal to people because they offer mutual fund investment choices, locked-in gains (or protection from bad market years) and death benefits.
While the promises of guaranteed minimum returns and regular payouts are tempting, not all offer a decent value. Many variable annuities have […]
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