Dear Carrie, My mother, who is in her 70s, has recently been advised by her banker to buy an annuity. I've heard that annuities can be costly and risky. What do you think? --A Reader
Annuities often seem to raise questions. That's probably because what was once a fairly straightforward way to secure income for retirement has evolved into a multitude of products with an array of possible features. As a result, the world of annuities has become incredibly complex and fraught with potential misunderstanding.
Annuities can be divided into two distinct categories: fixed and variable....