According to Charlie Jewett of Renovating Retirement, the first big myth with annuities is that they have high fees.
“There are six different types of annuities available, most of which have very low or NO fees,” says Jewett.
So, why might annuities have a bad name?
Jewett believes it has something to do with the builder.
“Variable annuities are almost never suitable for any purpose but because they pay such high commissions, and are marketed heavily, the good ones get lumped in with the bad ones and confuses the truth,” says Jewett.
To learn more, go to https://renovatemyplan.com.