Is a Fixed Annuity the Right Home for Your Cash?
Fixed annuity rates look attractive right now, but the real cost of a MYGA shows up if you cash out before 59½. Here’s how they actually work.

Fixed annuity rates look attractive right now, but the real cost of a MYGA shows up if you cash out before 59½. Here’s how they actually work.

The types of annuities aren’t interchangeable: fixed locks a rate, variable rides the market, indexed caps gains behind a 0% floor. Here’s which fits.

How annuities work comes down to two phases and their cost. The honest version: payouts, the 10% penalty before 59½, and the fees that erode returns.