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Why annuities are a bad idea for almost everyone

March 5, 2018

“Don’t lose money in the Wall Street casino!” the radio announcer blared.

“It could take a lifetime to make up your losses in the stock market.”

Unless your lifetime is five years — that’s how long it took the market to make a full recovery after the Great Recession — he’s dead wrong.

He was using this fear tactic to sell annuities. And getting suckered into buying an annuity with him — or any broker — could be the biggest mistake you ever make.

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