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[quote=Anonymous][quote] it has a psychological appeal. You can also get one that pays out for a period certain, even if you die early (your designated beneficiary gets the $).[/quote] Yes, sometimes annuities can be great for a surviving spouse - especially an elderly widow. Having had to help my mother with this after my dad passed younger than expected, it is really nice for her to have a consistent source of income in addition to social security that does not require sales of other stocks, assets, etc. Although I love index funds for myself, I was surprised to see how well this annuity will serve her and served my father for a few years after his retirement. But it really depends, and most annuities may not be worth the cost. You need a fiduciary fee-only CFP who can advise on these things. [/quote]
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