Truth 16. Annuity risk
"The only thing we have to fear is fear itself."
—Franklin Roosevelt
For many people, the choice to purchase an annuity is one made out of fear—the fear that they will outlive their savings. Perhaps Franklin Roosevelt was right about fear. However, even if the only thing we have to fear is fear itself (not to mention tsunamis), piggy backing the fear that you will outlive your savings on top of the fear that your savings themselves are not safe is still a lot of fear.
The concern as to the safety of their savings is what drives many people, particularly those wary of the stock market, to Certificates of Deposit (CD)s. A good way to tell someone's age is to mention the acronym CD. If they immediately think of Certificates ...
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