ABC News: Annuities Draw New Look at Time of Uncertainty
Date:
Thu, 07/08/2010 Annuities Draw New Look at Time of Uncertainty
Financial uncertainty fuels new push for guaranteed retirement income (shh, that's annuities)
By DAVE CARPENTER
The Associated Press
CHICAGO
The controversy over annuities mystifies people like Dennis Defnet.
The semiretired businessman and his wife, Karen, have three annuities that pay a total of
several thousand dollars a month. The Wisconsin couple take comfort in knowing they
have an assured income for life. And those checks allow them to postpone taking Social
Security until age 70, when they can get the maximum payments.
"I can't imagine what drawbacks there would be for anyone who is retiring," says Defnet,
62. "Who would not like to have guaranteed income for the rest of their life?"
More people like the Defnets are coming to appreciate annuities, an investment product which can help retirees meet their income needs once they get a handle on its complexities. (continue reading)
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