Annuity sales are on track for a record year. Here’s what to know before buying
December 27, 2023 by Greg Iacurci
Consumers pumped record money into annuities in 2023, on the back of higher interest rates and anxiety about the stock market and U.S. economy, experts said.
Click HERE to read the full story via CNBC
Wink’s Moore on the Market: regory Iacurci at CNBC has a gem for us this morning.
He’s interviewing a member of CNBC’s Advisor Council…
Is that a pay-for-play deal?
Why do you think that the “majority [of annuities] are not necessarily good,” Carolyn McClanahan?
Annuities are the only product that can guarantee consumers an income that they cannot outlive.
And SPIAs aren’t right for everyone. Some people like to earn additional interest on their annuity, while saving for retirement. THEN, income can be “turned on” through their deferred annuity contract.
SN: For FREE; you don’t need an income rider to guarantee income for life.
And of course CFP Paul Auslander, CFP® doesn’t recommend deferred annuities to his clients. Again- SPIAs and DIAs aren’t right for everyone.
Deferred annuities are not “bad;” they are just a tool. -sjm
