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Reply to "Should my mom buy an annuity?"
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[quote=Anonymous][quote=Anonymous]Brokers love to sell annuities because they get big commissions on them. They are a ripoff. [/quote] This is correct. Proceed with caution and watch everything she signs. What are the fees? (annual?) Commission to seller? Are their additional fees to invest in mutual fund accounts (known as a "wrap account")? Is there a death benefit? And if you think she's really going thru with it, but Annuities for Dummies or the other one. I did.[/quote]
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