No. of Recommendations: 1
Well, retirees who bought an immediate annuity just before the Great Recession are a lot happier than their friends who remained invested and saw their nest egg crack open.

There are several types of annuities, and there are good annuities and bad annuities, just like any other product or service one might buy. When I hear someone say they'd never buy another annuity because of the poor performance or high fees they experienced with an annuity they purchased, I have the same reaction I'd have if I heard someone say they'd never buy a car because they had a bad experience with a lemon they'd previously owned.

The annuities market is very mature, very competitive, and profit margins are thin, which is good for the consumer. Properly purchased Immediate annuities are a good way for middle class Americans to generate a reliable lifetime retirement income.
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