Conclusions

My parting advice on annuities is this:  Don’t let anyone sell you an annuity.  If you find an opportunity, do your homework, and you determine that it is a valuable investment, then you may be onto something.  I have never seen an annuity that I would consider an excellent long-term investment, especially if you want to retire rich.  Many people choose to convert a substantial portion of their retirement account into an annuity at the time of retirement to guarantee income.  We will discuss this idea in a later section.

References and Further Reading

Novack, J. (2011/2014).  The Big Decision: When To Take Social Security.  Forbes.

Available:  https://www.forbes.com/sites/janetnovack/2011/02/15/the-big-decision-when-to-take-social-security/

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