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Reply to "Should my mom buy an annuity?"
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[quote=Anonymous]Avoid it. The selling point from the salesman is it cushions her from market volatility? There's a better way to do that -- change which funds you are invested in. At her age and given her health, she should probably be invested in low-risk investments (bonds) and not the equity market anyway. She needs to get to a financial planner right away. She should probably set up a special needs trust (special tax treatment) for her grandchild, and maybe even look at gifting to her children the maximum tax-free allowed ($13k I think?) per year. [/quote]
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