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July 12, 2011 at 08:00 PM
Well, I’ve seen it all now. Annuities got a huge thumbs up from the mainstream media when MarketWatch‘s Robert Powell wrote a long piece singing their praises in his commentary, “Retirees need fewer stocks, more annuities.”
Hey, that’s nothing new to any of you, but still, it’s a great sign to see a consumer publication take a positive stand on safe products. Powell based much of his opinions on two recently released reports: one by Putnam Investments and another by the Government Accountability Office.
The piece is so bullish on annuities that Powell writes “Retirees should invest just 5 percent to 25 percent of their portfolios in stocks, or at least that’s the case for those whose primary goal is to minimize the risk of running out of money and sustaining their withdrawals, said one report published by Putnam Investments new think tank.”
