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Reply to "Should my mom buy an annuity?"
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[quote=Anonymous]Immediate annuities are like insurance for long life expectancy-- if your mom is concerned about outliving her money she could purchase a guaranteed income stream. If she lives longer than expected, she still collects, but if she dies sooner then her heirs don't get a refund. She may not like this because it doesn't leave money to her kids. However, a deferred variable annuity is very rarely a good idea. I used to hang out with annuity salesmen and they make a ton of money off commissions because once you buy there are a lot of hidden fees.[/quote]
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