Can anyone share the basics of a private annuity? There are different types of annunities. Single Payment Fixed Annunity is as it sounds, you buy fixed payments for your life, joint life or specific time. http://www.smartmoney.com/retirement/planning/whats-wrong-wi... Variable annunities, which you to control distributions and may allow control of investments, are generally not a great investment. The link above gives a description of some of the issues: High Commissions, Penalties, Fees, Restrictions and more Fees.
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