Originally Posted by jrobb45
I pretty much feel the same as you about annuities. Even though a very good friend, who is a retired insurance agent, and one of my son in laws who is currently an insurance agent say annuities are good(in the right situation), except for the fees.
The "right situation" is the key here. High income, high net worth, maxed out qualified retirement plans, want more tax deferral, (in some states) want more asset protection from creditors and lawsuits... an annuity may be the ticket. The *right* kind of annuity for the right person can make sense. Not one with massive fees.
And there are many fixed annuities today which have no fees.
But these are almost never aggressively peddled because there are no salescritters to make a few
bucks off of the sale.