:

Is an Annuity a Good Investment for an Elderly Person? Weighing Pros and Cons

According to a 2013 Gallup survey, approximately 14% of annuity purchasers are age 65 or older, highlighting a significant interest among seniors. Determining if an annuity is a good investment for an elderly person depends on their unique financial situation, risk tolerance, and goals, as these products offer both guaranteed income and significant drawbacks.