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Annuities are too complicated!  Hey life is complicated.  Did you ever sit at a car dealership and look at the paperwork and say to yourself, “I don’t want a car the paperwork is too complicated!”  You prefer driving and not walking so you signed all of the documents and away you go.  An annuity is a legal and binding contract.  That’s a good thing. It is meant to help you for a very long time and you do not want the rules to change a decade down the road.  Look at all of the legal contracts that you are tied to today.  Mortgage, car loan, health insurance, credit cards, even your mutual funds have complicated legal documents. (Why? – It’s America and we love lawsuits)  Please don’t let anyone try to tell you to avoid annuities because they’re complicated.  They can be a very important part of building a retirement or estate plan.  Let’s illustrate it this way.  I live 10 miles from work and I do not want to ride my bike everyday.  I signed a stack of documents and now I drive my car so I can avoid exercise and drink my coffee in the morning.  I want to make sure that at my 90th birthday party I am still getting a monthly income and I don’t have to beg anyone to buy my Depends for me. I signed a legal contract so that my annuity will make sure I get a monthly deposit into my bank account even though I spent every penny I had.  Annuities are no more complicated than any other important documents.  For public safety please don’t drive and read your annuity contract.