Read This Before You Get an Annuity
People who buy annuities, it turns out, live longer than people who don't, and not because the people who buy annuities are healthier to start with. The evidence suggests that an annuity's steady payout provides a little extra incentive to keep chugging along. -- Steven Levitt, SuperFreakonomics
It's hard to top Steven Levitt's reason for buying an annuity -- because it might help you live longer. But choosing to buy an annuity (or two) is not a slam-dunk decision. Here's a closer look at what you need to know about annuities and how they might increase your future financial security by providing critical retirement income -- and how they might hurt you.
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Source: Fool.com