This is the Safari online edition of the printed book.

Avoid the retirement annuity minefield...don’t make an expensive, catastrophic mistake!

·     The truth about using annuities to protect your future

·     The truth about hidden fees that could cost you a fortune

·     The truth about the newest types of annuities–good and bad

Simply the best thinking…the truth and nothing but the truth

This book reveals the 50 CRITICAL FACTS you must know about annuities before you buy

“Steve Weisman has accomplished a feat of immense proportion by explaining one of the most complicated investment vehicles in ways that average Americans can easily understand.”

Robert Powell, Editor, “Retirement Weekly,” MarketWatch

Introduction v

Truth 1          The history of annuities 1

Truth 2          Immediate annuities 5

Truth 3          Fixed rates 9

Truth 4          Deferred annuities 13

Truth 5          Annuity fees 17

Truth 6          Variable annuities 21

Truth 7          Variable annuity investment choices 25

Truth 8          Actively managing variable annuity sub-accounts 29

Truth 9          Indexed annuities 33

Truth 10        More about indexed annuities 37

Truth 11        Calculating index changes 41

Truth 12        Inflation protected annuities 45

Truth 13        Tax-sheltered annuities 49

Truth 14        Annuity settlement options 53

Truth 15        Tax deferral 57

Truth 16        Annuity risk 61

Truth 17        Annuity death benefits 66

Truth 18        Annuities and income taxes 69

Truth 19        Tax-free 1035 exchanges 73

Truth 20        Charitable gift annuities 77

Truth 21        Split annuities 81

Truth 22        Joint and survivor annuities 85

Truth 23        Shorter surrender annuities 89

Truth 24        Longevity insurance 93

Truth 25        Inheriting an annuity 97

Truth 26        Variable Annuities versus variable universal life insurance 101

Truth 27        Choosing between mutual funds and an annuity 105

Truth 28        Annuities and asset allocation 109

Truth 29        Asset allocation and laddering annuities 113

Truth 30        Minimum required distributions 117

Truth 31        59 ½ 121

Truth 32        Annuities in IRAs 125

Truth 33        Annuities and 401(k)s 129

Truth 34        More about annuities, IRAs, and 401(k)s 133

Truth 35        Annuities for children 137

Truth 36        Bonus credits 141

Truth 37        The Pension Protection Act, annuities, and long-term care 145

Truth 38        Annuities and Medicaid 149

Truth 39        Annuities and reverse mortgages 153

Truth 40        State Guaranty laws 157

Truth 41        Annuities and creditor protection 161

Truth 42        Getting out of an annuity 165

Truth 43        Annuity scams and senior citizens 169

Truth 44        Annuities and class actions 173

Truth 45        Prospectuses and annuities 177

Truth 46        Free looks 181

Truth 47        For whom annuities are best 185

Truth 48        Steve’s annuity rules part one 189

Truth 49        Steve’s annuity rules part two 193

Truth 50        Where to go for Information 197

About the Author 201

Amazon.com® Reader Reviews (Ranked by Helpfulness)

Average Amazon.com® Rating:  Based on 4 Ratings

Simply the Best - 2008-09-20
Reviewer Rating:
The contracts on insurance products are written for the benefit of the insurance companies, not the insured. This is the first book I have read that simply and yet completely explains a complicated financial product that most people buy without understanding what they are buying. Annuities are an area where there has been great abuse by salespeople; I wish I could make this book required reading before anyone could by one.

Research is outdated. - 2008-12-26
Reviewer Rating:
This book is overwhelmingly negative towards annuities. Although, I think that many of the author's (Weisman) points are valid they are mainly geared toward older variable annuities, with particular attention given to equity indexed annuities and annuitization. Not one of the 50 chapters is devoted to living benefits, which make today's annuities most attractive.

I am very disappointed in this book. Nothing of what the author outlined is factually incorrect, but it is written as if he looked for all the negative aspects and published them. To write a book title " The Trust About Annuities" in 2008 and not even mention living income benefits (GMIBs, GMWBs, etc) seems negligent.

An ideal addition to the growing library of financial and money management literature - 2008-11-14
Reviewer Rating:
Retirement is expensive, and making the right decisions is incredibly important. "The Truth About Buying Annuities" is a guide to avoiding bad choices in finances when planning one's retirement. With cogent advice on minimizing risk when investing in annuities, avoiding the hazards embedded in the fine print, identifying and utilizing new options that are emerging in the modern market, and so much more, "The Truth About Buying Annuities" is solid and recommended reading for anyone planning the finances of their retirement. An ideal addition to the growing library of financial and money management literature, "Buying Annuities" is an important acquisition for personal, professional, and community library instructional reference collections.

Author completely omits most important features!!! - 2009-06-29
Reviewer Rating:
This author omits the most important facts about today's Annuities.
The guaranteed principle and income riders.
People who took Steve Weisman's advice to stay away from annuities and lost 40% to 50% of their life savings in 2008 should be upset.
For a fee of .35% per year, which is just 350 per 100,000 . Your principal could have been 100% protected from loss as long as you don't withdraw more than 10% per year and hold your annuity for 7 years.
Another very popular rider that has also been available for years is called Lifetime HD 7 and has a .75% yearly fee.
This rider locks in market gains EVERY DAY and guarantees a 100% return of principal after 10 years.
It also guarantees a 7.2% compounded return for your retirement value .It guarantees your retirement value to be 200% in 10 yrs and 400% in 20yrs (this value is what you can base your 5-8% lifetime withdrawal on. You cannot walk away with this amount as you can with your principle.)
When you start your lifetime withdrawals they can never stop even if you run out of principle.
Your income can also continue at your death for your spouse and double if you enter a nursing home or become disabled.
For this author to completely omit these riders in his book shows he may be biased and have an anti annuity agenda.

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