The Savings Game: How to buy an annuity
If you want to become educated regarding all types of annuities, I recommend you go to the website of Stan Haithcock at stantheannuityman.com. You can request, at no cost to you, brochures on every type of annuity, including the pros and cons of each type. The brochures are not written from the point of view of a sales pitch for using his services. They will be valuable to you whether you use his services or not.
You can listen to his podcasts at no cost to learn about the basics of annuities. His podcasts are very educational, and they are presented in a way you will understand whether you should be considering annuities. He points out you should only purchase an annuity if you understand the contractual guarantee you are obtaining from any annuity you consider.
If you have not reached age 50, you should not be considering annuities, nor should you consider them if you have reached age 80.
Haithcock will discuss with you the pros and cons of different sources of assets that you can use to fund the annuities. For example, he will review with you the pros and cons of whether you should be considering annuities within the structure of a traditional IRA or 401(k).
