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Why Annuities Are A Garbage Investment

The market has been a mess since the beginning of 2022. We got a bit of a reprieve early in 2023, though it was mostly top technology stocks like Alphabet (Nasdaq: GOOGL) and Amazon (Nasdaq: AMZN) that did the heavy lifting for the major indexes. Most other stocks are down on the year.

It feels like things are spinning out of control.

And when that happens, you can count on the annuity industry to ramp up its marketing and try to convince you that it’ll make everything alright.

I’ve written extensively about annuities and what terrible investments most of them are. In fact, in my book You Don’t Have to Drive an Uber in Retirement, Chapter 16 is titled “The Worst Investment You Can Make.” It’s about annuities.

Whenever I write a scathing review of annuities, the annuities salespeople put me on blast. But the numbers simply don’t add up.

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This post originally appeared at Wealthy Retirement.