Retirement Income? Annuities Come Up Short

Retirement Income? Annuities Come Up Short

Excerpt:

Turmoil in the stock market. Paltry interest rates at the bank. What are the newly retired to do?

Many are taking a look at buying a fixed annuity instead.

These products let you swap a lump sum for a fixed income for life. They're sold by insurance companies, and have long been considered a safe way to ensure a steady income in retirement.

Comment: Already decided not to go this route.