And that is a real problem. It's not the poorest who need to be encouraged to buy annuities, he says, since they simply don't have enough to fund their own retirement anyway. The richest are the easiest to persuade to convert some of their savings, as long as they have enough left over. Rather, he asserts, "It’s the person with $100,000 to $500,000 that needs to be encouraged to annuitize a significant portion of their assets. It’s these individuals who are most likely to think they have saved enough, only to find out too late that they didn’t."
That's a fate all clients should avoid.