February 7, 2007

annuities = bad

Thanks to a post by AllFinancialMatters, I was reminded of an article I read recently about annuities. The article came in handy, as it helped me resist falling into the tangled web a financial advisor was weaving to bring me into his lair.

Anyway, the gist of the article, by Kiplinger, is that annuities are a rip off. Given that some of my friends are/have been/will be talking to the same advisor, I definitely recommend this as a must-read!


JLP said...

Just to clarify, the article doesn't say annuities are a rip-off. Rather, it is talking about the inappropriate sales of some annuities.

Yes, there are BAD annuities out there but that doesn't mean that ALL of them are bad.


Anonymous said...

Sorry, but they are all bad. I'd rather invest through a blackjack table.