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*Paying off credit cards and other debts (their balances are not in the formula)
*Making charitable contributions
*Paying off tax bills
*Making IRA and pension contributions
*Making planned big ticket purchases
*Putting money in a variable annuity

Can you explain to me why the variable annuity makes sense? That seems to be the thing that everyone is touting, but to me, it just looks like I'm supposed to give away all my assets so that my kids can get more financial aid, the vast majority of which would be in the form of loans. I don't understand why that's better than me continuing to invest my assets and just writing a check to pay for their college.

I'd end up with full control of my assets and the ability to spend the whenever I want with no restrictions, and the kids would end up without a ton of debt to get their education.

I have yet to figure out why these annuities are good for me and not just good for the person selling, but I'm probably just missing something.

Can you elaborate at all?
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