01.30.24

Study Examines Hesitancy Around Buying an Annuity

by: Doug Bailey

The Center for Retirement Research at Boston College explored why more people aren't buying annuities. “In short, people may be deterred not by a lack of interest in annuities but by a lack of knowledge of the product and how to buy it,” the report concluded. Indeed, a simple Google search of “annuities” returns dozens of results that sound more like warnings than enticements. “I think financial advisors oftentimes don't recommend them,” said report co-author Karolos Arapakis. “And they don't really believe in them. But a bigger problem might be people don’t know they exist and how to differentiate between the various products.”

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