It’s pretty simple. I needed safety. I’m a retiree and do not need the stress of picking up the paper and checking the stock markets. I did that for years when I was working. I made some money and lost some money. Now, at my age, I needed a sober view of my assets and an annuity made perfect sense.
-Tom A., 68, Dallas, Texas
Having retired, I had a discussion with my advisor. We were looking for a way to keep my income steady so I wouldn’t outlive my money. Together, we worked out a plan on a five-figure annuity that gives me the money I need to pay the fixed bills I have. My total fixed costs are less than $1,000 a month.
-Jerry D., 74, Portland, Ore.
I do not have an annuity. But I have an aunt who got into an annuity that tied up her money and at the end of her life it was a very sad situation. She wasn’t exactly wealthy to begin with and a slick sales guy got her to invest what she had left in this annuity.
-Margie R., 64, Morgantown, W. Va.
Safety, plain and simple. I really like the safe feeling an annuity gives me and my wife. I probably sound like a commercial for annuities, but it’s the truth. We have always been a conservative family–financially, politically, spiritually–I honestly think it’s hard-wired in us, and, with that mindset, annuities are the type of investing I feel comfortable doing. If more people had thought annuities this decade, our financial system would be in a whole lot better shape.
-Robert D., 60, Baton Rogue, La.