Those evil annuities!
If you have spent any amount of time in internet-ville you've probably seen those "free reports" describing the pitfalls of using annuities to grow your nest-egg. The implication is that shady insurance agents are out there pushing these highly questionable financial vehicles, without telling clients the whole truth about them.
Well, as a fiduciary, how would I rate these things? Would I recommend an annuity for one of my clients? For myself? My Mom?
I'd like to take a few minutes to discuss some of the chief objections to annuities, and then my thoughts on those objections, followed by a summary. So here goes...