Are annuities better when interest rates are high?
When interest rates are high, annuity sales tend to go up. This is because people are looking for a safe way to invest their money and earn a good return. However, when interest rates are low, annuity sales usually go down.
When should you not get an annuity?
Don't have sufficient savings to cover premiums.\n\n Buying an annuity could mean laying out $50,000 or more to cover the premium. If purchasing an annuity would drain your liquid savings and put you at risk of having to borrow to pay for unexpected expenses, it may not be worth it.
Is it best to buy an annuity now or wait?
For someone with a reasonably healthy lifestyle and good family genes, starting an annuity at a later age is clearly the best option. Waiting until a later age, of course, assumes that you're continuing to work or have other sources of income, such as a 401(k) plan or a pension as well as Social Security.
Who should not invest in annuities?
You should not buy an annuity if Social Security or pension benefits cover all of your regular expenses, you're in below average health, or you are seeking high risk in your investments.
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