I used to listen to Clark Howard on the radio all the time. I always remember that he said to NEVER buy annuities, because they're too much of a ripoff. That has stuck with me.
HOWEVER--now that I'm so close to retiring, and the stock market has been flying so high, I fear/expect another big crash. I'd really like to hang onto the gains I've made over the last few years (wouldn't we all).
Annuities seem like a reasonable way to do that, given that you get a guaranteed income in bad times and a little bit of a "raise" in good times (if I understand correctly).
What do y'all think about annuities as a way to preserve present wealth?
(Btw, I'd like to retire in 1.5 years at the MOST, and right now my hubby and I combined have $770K in our IRAs/401k's.) I'd hate for even December 2018 to happen again soon and bring us to our knees at this point!!!