I retired 6 years ago and hired a financial adviser. He recommended annuities, but they only yield about 2%. Now what?

March 12, 2024 by Alisa Wolfson

Question: I retired six years ago and hired a financial adviser. He recommended that I buy three annuities as a means of having a guaranteed income like a pension. Those annuities yield about 2%. 

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Wink’s Moore on the Market: Why on earth is this woman still in annuities that only yield 2%?!?

“If that’s the case, the adviser should always be shopping the market once the surrender period has expired to make sure the client is in the best position possible,” Bryan Kuderna says.

Indeed.

As for other sources in this article, claiming that annuities have high commissions and that people should ONLY work with fiduciaries…rolling my eyes. -sjm

Originally Posted at MarketWatch on March 9, 2024 by Alisa Wolfson.