People have long been conflicted about annuities. On the one hand, they like the guaranteed lifetime income that only these insurance products can provide retirees. In fact, a recent survey of people 55 and older found that 73% considered guaranteed income a highly valuable addition to Social Security.
But they don’t like having to give up access to their savings: 75% of working-age investors polled last year for the Wells Fargo/Gallup Investor Optimism and Retirement Index said they want the freedom to spend their retirement savings however they choose, even if it means possibly running out of money too soon.
Fortunately, […]
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