InvestmentNews.com posted this article that illustrates an important point regarding investment advisors and their take on annuities.
I’ve heard every opinion on annuities that can be found and mainstream money managers have always confused me. If they had to be honest, they’d probably admit that they don’t like annuities because they lose management fees. Instead, they recommend a client continues to bear risk throughout retirement.
Guaranteed retirement income is critical for at least a portion of your assets. The article also clearly states that portfolio longevity is enhanced considerable with the use of guaranteed income annuities.
Read the article here and when it comes time to craft a solid plan, choose an advisor that puts your interests first.
There is no excuse in my opinion for bad advice, and I can see no reason why retirees should bear any risk at all when guaranteed retirement income options are available.