Who buys variable annuities?
Last year the people making my taxes suggested a variable annuity instead of my traditional IRA. This variable annuity was supposed to guarantee 8% return year after year with no exception or market value whatever is higher in every period. It was too good to be true, and I did not have time to research, so I decided to pass in the offer and go with the known IRA account. Now I am back thinking of the sure business, and I am wondering what kind of people buys Variable Annuities. Just to see if I fit this profile. Thanks for your help, and to the “Personal Finance and Money” people, Thanks!
