Annuities are one of the most talked about and debated forms of preparation for retirement. What are annuities? They’re basically just a type of insurance product that eventually help people manage their money in retirement. So who is actually buying annuities? A few different groups.
Most non qualified annuity owners, about 80% of them, have household incomes that come in below $100,000. A non qualified annuity is one in which the owner pays taxes on the funds going into it before it goes into the annuity. Additionally, most owners of non qualified annuities are women.
The people who do own annuities are very loyal to their purchase. In fact, more than 90% of people who own an annuity still own their first one and buy it to begin with to help fund their retirements.
Annuities have their advan