Thank you all for your replies. I remembered that the mortgage rate on the house we bought in 1972 was about 6.75-7.00% and that the cd rates got into the double digits in the early '80's, but I couldn't remember what annuities were paying because we weren't investing in them back then.
Now I've started to look at them more(but will not make an investment at current rates), because of the tax deferral. No more IRA contributions because we don't have earned income.
I'm aware of all the fees annuities charge and was wondering if the annuity companies interest rates on single premium deferred income products raise proportionally, as intermediate term cd's(5 year) do, if they lag a little, lag a lot etc.. Sorry for such a long sentence.
It seems to me, that for the last several years, FA returns have lagged cd rates and the only thing they had going for them was the tax deferral.
Regards,
jr