It sounds like your friend would buy one because she is scared of stock market volatility.I'm trying to understand this. Why do people buy annuities? A friend is planning to buy one. The company is promising her a 10 percent per year return. She's retirement age and deathly afraid of stock market volatility.
My default reaction to annuities has always been "no." I'm not saying they're scams, necessarily, but they always make me think of the saying "if it sounds too good to be true, it is." I also don't like the idea of giving my money to an insurance company.
Please help me understand (a) why people buy annuities and (b) why or when they might be a good idea.
Otherwise, I think a simple internet search of "benefits of annuities" would yield sufficient results.
Statistics: Posted by 4nursebee — Mon Apr 08, 2024 3:28 am — Replies 229 — Views 15237