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Why the Highest Annuity Rate Isn't Always the Best One
3:08
By a financial services industry contributor.
You see two annuity quotes. One offers a guaranteed return of 5.5%, the other 5.1%. On a sizable nest egg, that 0.4% difference could mean thousands of dollars in future income. The higher rate seems like the obvious choice, but the decision is rarely that simple. The real work begins after you see the numbers, because the rate itself doesn't tell…