From Scott Burns' AssetBuilder:
Q. In many columns you have provided a variety of reasons for investors to be cautious about variable annuities. That doesn’t seem to stop the financial planners of today from pushing variable annuities hard. Do variable annuities now have something I should be considering for my future? I am 70. I am fearful, since they are insurance company products, that the insurance company and the advisers are making a whole lot more money than I ever would. Is this still true? Read more
There are many types of annuities and some can still be very beneficial. The article lists a few of those.