Is an Annuity the Right Retirement Vehicle?

Using an annuity for a retirement plan iscommon, but as a consumer, it is difficult to discern which annuity to use andwhich to stay away from. Certified financial state planner Ashleigh Brooker hasoutlined a few tips on deciding if an annuity is the right retirementvehicle. 

1. Know about the details of the contractualagreement and understand the annuity. 
2. Rank flexibility in your list ofpriorities. If flexibility is important, choosing a different retirementvehicle may be the best option. 
3. Some annuities havesurvivor benefits, but many do not. If leaving behind an inheritance is important,then making sure that you have an annuity with death benefits is key.   

See Ashleigh Brooker Questions to Ask Yourself When Considering Annuities, The State,  Aug. 10, 2013.