👴👵 6 Reasons Annuities May Make Savers Hesitant (AARP Article)

6 Reasons Savers Are Skittish About Annuities.

 

Shifting assets into an annuity can provide a reliable income stream in retirement, but concerns remain about complexity and cost.

 

By Nicole Ridgway, AARP. Published July 31, 2024.

 

Are annuities catching on? The numbers seem to say so.

 

Sales of these insurance products, primarily designed to convert assets into a guaranteed income stream, have increased for 15 consecutive quarters and reached a record $215 billion in the first six months of 2024, up 19 percent from the same period last year, according to LIMRA, a trade association that conducts research for insurance and financial services companies.