If you said… “I hate cars!”
I might say… “ALL cars??? Ambulances? The Prime Truck? Your minivan!?”
Sounds ridiculous, right?
But that’s the same type of logic when someone says, “Never buy an annuity.”
You see, there are many different types of annuities, and some solve problems nothing else can, like:
- 1Pensions are typically built on annuities. That guaranteed paycheck-for-life is indispensable for many.
- 2Provide lifetime income for disabled children long after their parents are gone.
- 3High income folks use annuities as an extra tax-deferred "bucket" once they've maxed out their 401(k)s and IRAs.
- 4Fixed annuities (similar to CDs) offer much higher rates. (Right now, some are nearly double what banks or credit unions pay for the same term.)
Yes, there are duds out there — and after 20+ years in the industry, there are some annuities I’d never recommend. But the same is true for certain stocks, mutual funds, and other investments I think are lousy.
At V8 Wealth, annuities can be a valuable option for the right client and situation — but it’s never the only option. We’re proud to offer a wide range of other investments as well to build a plan that truly fits our clients.
Curious…what your experience has been? I’d love to hear your thoughts.
— George