Financial Advisor, Cona Financial Group, La Verne, CA
No! Dave Ramsey is not a fan of annuities. Dave's generic advice is to invest in "good quality mutual funds, with a long track record" and to stay invested, even through your retirement years.
I happen to disagree with his advice, and with his stand on annuities. (For the record, I can show you mathematically how following his advice through any of the major market downturns we've suffered would have left you dead broke.)
You have to remember, an annuity, like any other financial product, has a purpose. The purpose of an annuity is, among other things, to provide a stream of income that is guaranteed. When used appropriately, an annuity can be a valuable tool.
Agent Owner, Gilmore Insurance Services, Marysville, Washington State
Please try and remember that Dave Ramsey is an entertainer. He is not a financial advisor, he plays one. He gives his advice with the warning that his advice should not be considered individual financial advice and therefore is not responsible if you follow his advice.
Annuities are fine products that in the right place, do wonderful things. Misapplied, like any financial product and they can harm.
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I happen to disagree with his advice, and with his stand on annuities. (For the record, I can show you mathematically how following his advice through any of the major market downturns we've suffered would have left you dead broke.)
You have to remember, an annuity, like any other financial product, has a purpose. The purpose of an annuity is, among other things, to provide a stream of income that is guaranteed. When used appropriately, an annuity can be a valuable tool.
Annuities are fine products that in the right place, do wonderful things. Misapplied, like any financial product and they can harm.