My comments of a recent article by Craig Wong, The Associated Press “Afraid of outliving your money? Here’s why annuities might be for you”
Jamie Golombek managing director for tax and estate planning at CIBC Wealth Advisory Services is correct; an annuity provides guaranteed funds, usually monthly, to meet your continuing needs after your regular pay cheque ends.
And Crystal Wong, senior regional manager at TD Wealth Financial Planning is incorrect in trying to compare annuities to “alternative investments”. There are none. You either guarantee your income with an annuity or you don’t; your choice.