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Despite negative perceptions surrounding annuities as “four-letter words” in personal finance, it's important to highlight that not all annuities are created equal.
Straight Income Annuities: These straightforward products ensure steady income, making them appealing for many retirees.
More Complex Annuities: Variable and equity-indexed annuities can carry higher expenses and may not always align with an investor's needs.
For many seniors, opting for consistent income, especially in the face of cognitive decline or for spouses with limited financial knowledge, could potentially offer peace of mind and financial security.