Reported 3 days ago
A recent study from Boston College's Center for Retirement Research reveals that while many investors see the potential value in annuities for guaranteed retirement income, only 12% actually purchase them due to the complex processes involved. Despite over 50% of investors expressing interest, misconceptions and the hurdles of buying an annuity deter potential buyers. The study suggests simplifying the purchasing process could help more retirees benefit from annuities, which are designed to provide a steady income but come with certain risks like inflation erosion and limited accessibility of principal.
Source: YAHOO