Well, I’m going to suggest you order the latest version (last November) of The Savage Truth on MOney on Amazon. I spent a lot of time on the annuity chapter. First, the salesperson is tempting you with a high return — but the devil is in the details. He/she is getting a BIG commission on this sale (buried inside the contract). And you will be locked in for a period of years (which means the insurance company plans to earn more than they pay you in order to pay his commission)! It’s a bit like the “roach motel” concept, where you can’t get out without penalty.
Please read that chapter and then go to Wealthramp.com to find a FIDUCIARY financial advisor — one who works for your best interests and fully discloses fees, and does not take commissions hidden or otherwise) or products that are recommended.
I have nothing against annuities and own some myself. But you are right in suspecting you aren’t getting the whole story!