4 Questions to Ask Before Adding an Annuity to Your Retirement Plan

Annuities are a worthy option for savers looking to add an element of protection to their retirement strategy. The key: Work with an independent adviser and understand WHY each product is being recommended.

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There are certain topics you learn to avoid while at a dinner party. Religion. Politics. Medical issues. Guns. Gossip. Gluten. I’d also throw any discussion of annuities into that mix.

Not only because people can have such a visceral reaction to the word -- based mostly on those "annuities are the devil!" speeches you often hear from so-called experts and celebrity financial gurus. But also because it means you're wading into a complicated subject that many people may find hard to understand.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Casey B. Weade, CFP®
President, Howard Bailey Financial Inc.

Casey B. Weade is president of Howard Bailey Financial Inc. in Indiana and author of the book "The Purpose-Based Retirement." Weade, a financial professional, hosts The Purpose-Based Retirement radio and TV shows in the Fort Wayne area. He earned the prestigious Certified Financial Planner™ (CFP®) certification in addition to being a Retirement Income Certified Professional® (RICP®). He is also an Investment Adviser Representative (IAR), as well as life, accident and health insurance licensed and Long-Term Care Certified.