Between your 401(k) or pension, your IRA and Social Security, you hope to have enough to enjoy a comfortable retirement lifestyle. Yet, you may want, or need, to find other financial resources — one of which might be a fixed annuity, which offers a guaranteed interest rate and can be structured to provide a lifetime income stream. But you may be nervous about investing in annuities because of some negative things you’ve heard about them. How concerned should you be?
To help answer that question, let’s consider some common misconceptions about fixed annuities: