What You Don’t Know About Annuities Can Hurt You
April 8, 2025 by Ken Nuss
Most people are only dimly aware of annuities and how they can help them achieve their financial goals and help ensure they’ll have enough income and savings for retirement.
About 79% of American adults struggle to correctly define an annuity, according to a 2024 Policygenius annuities survey.
A 2023 study by the American College of Financial Services found that respondents ages 50 to 75 scored only 12% on annuity-related questions, ranking their knowledge of annuities below that of Medicare, life insurance and long-term care.
Wink’s Moore on the Market: “About 79% of American adults struggle to correctly define an annuity…”
No surprises there.
“…[a] 2019 study estimated that 40% of U.S. households risk running short of money in retirement.”
Wow. That’s the first time I’ve seen that statistic!
This one is full of hashtagStattyStatStats…check it out! -sjm
