Seniors talk about fixed annuities
By Daniel Williams
Recently, we had the opportunity to speak with a group of senior clients to learn their thoughts on the topic of fixed annuities. Read on to find out their thoughts on this important retirement product. Also, if you have an opinion about fixed annuities—whether or not you are recommending them to your clients—please comment below.
Have you ever owned a fixed annuity?
Yes. I do own an annuity. My wife and I bought one before I retired. We’ve done a pretty good job of building our nest egg. But still, after talking with our financial advisor, we were sold on the idea of having that steady income coming in every month. We’re actually looking at buying another one.
I do own a fixed annuity. I have a financial advisor who was pushing them on me forever. Then I would watch the financial shows on cable and they were always so dang negative about the products. To tell you the truth, I didn’t know which way to go until my advisor kept showing me how the annuities held up in the 2008 market crash. I was sold.
No. I don’t own any annuities. I’m not sure what to think about them. I know they’re in the news and usually not for the right reason. I had an advisor years ago who told me about them. I never did buy one. When my husband passed we had things set up and it never did make sense to me to get an annuity. My husband had been sick for a while so we had time to get our estate in order and I have money to last me. I don’t think I’ll be making additional investments at this time.
No, but I have been thinking about purchasing one. I’m not retired yet and am putting money in my retirement fund every month. We had an advisor come around our office not too long ago and I liked what he had to say about the big picture of your retirement. One of the legs of the stool he was talking about had to do with annuities. Who knows, I may end up buying one.
Originally published on LifeHealthPro.com