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Reply to "Should my mom buy an annuity?"
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[quote=Anonymous]Thank you so much for all of this helpful information. Unfortunately it is difficult to talk my mom out of this, but I will continue to try. Her only financial goal is to make the $1 million (which is currently invested in mutual funds via T Rowe Price ) last until she dies and hopefully she will have some left over for heirs. She is not in the best of health (has had cancer and is diabetic and obese). She is worried about a decline in the stock market and how that will affect her $1 million. But why should she take money out of her T Rowe Price account and invest in an annuity invested (the guy said commodities) or other mutual funds ? Just doesn't pass the smell test. [/quote]
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