Have you bought a variable annuity yet? If you're a baby boomer and your answer is no,get ready for the hard sell.The promoters of these savings vehicles will prey on your insecurity about not having enough money for retirement to get you to sign up for what could be a costly investment.Even if you already have a variable annuity,someone may try to convince you to trade in your existing contract for one with new bells and whistles-in which are buried higher fees.The problem with variable annuities is they are often a high-cost answer to a problem that may have simpler,cheaper solutions,such as fully funding your tax-deferred retirement accounts or assembling a portfolio of reliable dividend-paying stocks (page 92).
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