By Bob Hock
If you walk into a meeting with any financial adviser, there’s a very good chance that the adviser will present an annuity for your nest egg. Annuities have turned into the Mr. Fix-It for all age groups. An annuity is a tax-deferred savings vehicle bought mostly by seniors, and is designed to supplement income needs through withdrawals. Annuities have a spot in many portfolios, but are they being overly recommended by advisers?
Buy an annuity when you’re young…or when you’re old!
No matter what your age, a fixed annuity makes sense for your nest egg. It makes the most sense when you can take advantage of the product’s tax-deferral benefit. It also s...