Annuities often come up as a topic of discussion when considering retirement savings. Yet, misconceptions abound, possibly causing unnecessary hesitation for potential investors. Here’s a deeper dive into the most common misconceptions surrounding annuities:

1. High costs associated with annuities: Not all annuities are expensive. While it’s true that variable annuities (securities-based annuities sold by security licensed professionals) may often come with higher annual fees between 3% and 5%—which includes various charges like management and insurance—the landscape of annuities is vast. Other types, such as fixed-indexed annuities, have lower costs. Choosing a plan that fits...