Clark Howard, a well-known consumer advocate and personal finance expert, has shared his opinion on annuities. While I couldn't find a specific quote from him on this topic, I can provide some general insights based on his views on financial products and investments.
Clark Howard is known for promoting low-cost and transparent financial products that benefit consumers. He often advises against high-cost investments and products with hidden fees. Annuities, in particular, can be complex and come with various fees and restrictions.
One concern Clark Howard has expressed about annuities is the high fees associated with some types of annuity products. These fees can eat into the potential returns and reduce the overall value of the investment. He encourages individuals to carefully consider the costs and benefits before investing in annuities.
Additionally, Clark Howard emphasizes the importance of diversification in investment portfolios. While annuities can provide a guaranteed income stream in retirement, they may not offer the same growth potential as other investment options. Howard often recommends a balanced approach to investing, which includes a mix of stocks, bonds, and other assets.
It's worth noting that Clark Howard's opinions are based on his general philosophy of promoting consumer-friendly financial products and services. However, it's always a good idea to do your own research and consult with a financial advisor before making any investment decisions.
Sources:
1.