Annuities–There ARE Guarantees In Life
February 6, 2023 by Todd Radwick
“Fixed indexed annuities” (FIAs) and their ability to provide a guaranteed life income in retirement without market risk are to the private sector what “defined benefit pension plans” are to government employees in the public sector—but on steroids. Granted, there are still some larger companies that offer full “pensions,” but this is becoming more and more rare. Ironically, in my nearly 30 years of experience as an insurance and financial advisor, I find most people truly don’t understand what annuities are or how they work—or see the similarity to pensions. Instead, they erroneously believe the only way to get a “pension” is to retire from a city, county, state or federal government job or a large company still offering full pensions.
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