“No one buys an annuity… they are sold annuities,” says author Stan Haithcock. This complicated financial product is often overhyped, but a new tax law may make certain kinds of annuities attractive to young investors as part of an overall retirement strategy.
Let’s say you have a friend who earns the same salary. You both have similar student loan balances and neither of you have inherited money. How can your friend own a condo and a paid-in-full car while you struggle to pay the bills each month? Or vice versa? These simple but powerful factors that make some people seem so “good with money.”