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...Annuities = Bad Choice For All?...

That is sort of like saying doing drugs is a bad choice for all people.

Probably pretty true if you are talking about the annuities an insurance salesman sells, or the drugs a street dealer sells, but that doesn't tell the whole story. There are times when a doctor may prescribe a relatively dangerous drug, just like that there are times when a carefully selected annuity can be a good choice.

Part of the confusion is that there are at least a half a dozen financial products called "annuities" but they are so different that it would really be best if they all had different names.

While they have pros and cons, a traditional pension plans and social security are basically annuities.

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