No. of Recommendations: 4
Interesting WSJ article on all the academic studies saying that retirees should buy an annuity. Unfortunately, most have been bought and paid for buy the insurance industry and probably can't be trusted.

The universities facilitating these studies and the professors writing them say they don't allow sponsors—which typically pay anywhere from $5,000 to $50,000 for research—to do any meddling, and that academic freedom is always maintained. And the companies footing the bill say they're attracting attention to important financial issues.

But some critics dislike the idea of the financial sector tapping academia for market-driven research, whether it's designed to shape the debate over regulatory reform or influence brokers and advisers—and their millions of clients. It's "the equivalent of the cigarette companies promoting smoking as a healthy lifestyle," says Brian Breidenbach, a Louisville, Ky., adviser who manages nearly $400 million and says he receives a steady stream of studies that read like marketing brochures.


Come to think of it, that insurance company that sold you the annuity probably wishes you were a heavy smoker.

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