Know What You’re Doing When Buying Annuities

There is a very dangerous epidemic going on. It concerns low-information people who have money and choose not to learn how to manage it productively. This lack of knowledge leaves them wide open to sales agents who market themselves as “financial advisers” when they are, in reality, targeting the low-information person in order to sell commission-based investments. I target these people as “sales sharks.” Have you been bitten?

That said, during the past week, I have received three calls from people who have bought annuities but did not know what they were doing.