It is also sad that people are so naive and financially illiterate that they think all types of annuities are the same.It is just sad that people are so naive and financially illiterate to believe what people tell them. And even sadder that companies do this and apparently are allowed to avoid providing true details in an easier to read format for the buyer.
SPIAs/Immediate annuities people buy for a guaranteed amount of money per year, unfortunately inflation will eat away and what seemed like a good amount won't be 15-25 years down the road.
I was going to say this isn't any different than people who ignore doctor's advice and will instead take supplements or do other questionable things but in this case these products are often sold by financial people and people assume they know what they are talking about and have their best interests in mind but instead they are just sales people looking to make commissions.
Statistics: Posted by GaryA505 — Mon Apr 01, 2024 12:50 pm — Replies 43 — Views 1696