Q. I have a retirement nest egg of nearly $1 million. I live off Social Security and I take distributions of about 4 percent a year, and that covers my bills. A friend said I should buy an annuity so I have guaranteed income. I hear annuities have high fees and I’m not sure what to look at. Where do I begin? I’m 69 years old and there is no mortgage on my house.
— Retired
A. You are correct most of the annuities have high fees. They’re complicated products that shouldn’t be purchased without significant research and understanding based on […]
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