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Unread 2011-03-08, 20:20   #1
kokopelli's Avatar

Feb 4 2003
6,476 posts
Stavromula Beta

As a Social Worker by trade, I'm financially ignorant. No need to understand money when you have no chance of making it, I figure. My folks, however, are trying to figure out annuities. I guess they were thinking of putting some $$ into CD's, but the rates for those aren't too special these days, I guess. So, someone at the Credit Union suggested a variable annuity, versus a fixed annuity. I think seven year term. Dad is almost 72, Mom is 69. Anyone understand this stuff?

Edit: Specifically, they mentioned a "Lincoln ChoicePlus Assurance" variable annuity from Lincoln Financial.

Bonus points for making this easy enough for a Social Worker to understand.
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