What Should You Keep In Mind When Considering An Annuity?

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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UPDATED: Jul 16, 2021

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You should consider an annuity a long-term investment and not invest money that you may need for unexpected expenses. You should not buy an annuity in any company that is not financially strong — it is not worth the problems you may encounter. If you are buying because of attractive tax treatment, be aware that Congress can change tax laws. The chance that this could happen increases with long-term investments. While annuities are simple in principle, there are many options and complexities including the effect of tax laws.

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