Every week we receive mail inviting us to a “Free Steak Dinner” at a local high-end restaurant. Sometimes twice a week. The offer usually comes with the promise of helping to reduce or avoid taxes in retirement.

Virtually all of these free dinners are conducted by financial advisors (we use that term very loosely) whose primary goal is to separate you from your money. They do this by convincing you that an annuity (variable annuity, equity-indexed annuity, etc.) is the best investment vehicle for you. They make them sound so unbelievably good, you may be persuaded to pull out your checkbook before dessert hits the table.

This information is provided for general information purposes only and should not be construed as investment, tax, or legal advice. Past performance of any market results is no assurance of future performance. The information contained herein has been obtained from sources deemed reliable but is not guaranteed.