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Instead of annuities my advisor (fiduciary) and I have kept a ladder of CD's over the years. The return is pretty abysmal but up slightly up from abysmal at the moment. When interest rates rise the CD's maturing will purchase one with a higher return.
I've been leery of annuities because of the costs but I haven't looked at them in years. They may make sense for you but have your rep run some real world scenarios for you.
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