Pros and cons of converting a 401(k) into an annuity

05/22/2013 | Reuters

Annuities, which promise to translate retirement investments into a steady income stream, are growing in popularity, but they carry risks that investors need to consider, experts say. For example, guaranteed-minimum-withdrawal-benefit annuities can be extremely complicated and difficult to compare for pricing. In addition, retirees should be sure that if they buy an annuity, they have enough cash to access for unexpected costs.

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