The Income Annuity is the Constrained Investor’s Life Jacket
May 3, 2022 by David Macchia
Imagine that you have joined some friends for a day of fishing. About two miles offshore, you sense that something is wrong. The small, single engine boat’s handling has changed. There seems to be more drag. The water level is higher than normal. It’s becoming obvious that a serious problem is unfolding.
One of your friends determines that the bilge contains more water than normal. And it’s filling rapidly. Then, the reason is discovered. The bilge drain plug is missing. Panic sets in. Immediately, you recognize that you are too far out to swim to shore. You have been thrust into a crisis. Frantically, you begin opening hatch covers and doors to various compartments. You quickly locate several life jackets. Snatching one, you say to yourself, “This is the one and only thing that can save my life.” And it does.
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