Annuities

I don't like annuities. And I'm wrong. I'm not alone in passing on annuities. We may all be wrong. As we age we lose some of our mental capabilities. Lose enough and you become a senior mark easily snookered by smooth talking relatives or swindlers. An annuity purchased between age 75 and 80 may make a lot of sense as insurance against being ripped off. 

I'd say more but why bother? I found a great site: 7 Best Annuity Calculators in Canada. If this site just talked about annuity calculators it would be a good site to visit. But it also examines some common questions raised by those thinking of buying an annuity.

• Is an annuity your best option?
• How large an annuity do you need?
• What's the best online annuity calculator for Canadians?
• When should one buy an annuity?
• How does one purchase an annuity?

There is a very good book on Retirement Income for Life by Frederick Vettese. It has an excellent section looking at annuities. This book changed my mind when it comes to annuities. Depending on our finances when I turn 75, I have my fingers crossed, I may buy an annuity despite having bad mouthed them for years.