Are annuities a good investment?

Like any other retirement savings tool, annuities come with advantages and disadvantages. “Annuities are the only product in the entire financial universe able to provide guaranteed income for a set period of time,” says Ryan Brown, a partner at financial planning firm CR Myers & Associates in Southfield, Michigan.

Do annuities have disadvantages?

Still, annuities do have disadvantages, and if you’re thinking about buying an annuity, it’s important to know what the possible downsides are. There are several types of annuities, annuity issuers, and annuity products. Any annuity can be beneficial or not, depending on whether it matches your financial goals.

Are annuities good for retirement?

Likewise, even the best savers get hit with an unforeseen event that could derail their financial plans. Annuities are one of the most popular ways to guard against that risk. However, there are pros and cons of annuities for retirement, and the products are often complex and controversial. What are annuities and how do they work?