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Who should — and shouldn't — consider making variable annuities part of their retirement portfolio

Who should — and shouldn't — consider making variable annuities part of their retirement portfolio

Finance
When it comes to variable annuities, many financial pros offer a few words of advice: Use with caution.Indeed, as complex investments that are tricky to understand, variable annuities come with risks that sometimes can outweigh the expected rewards."The plain-vanilla ones aren't necessarily a bad deal if they're used the right way," said certified financial planner Colby Winslow, a senior wealth planner with WaterOak Advisors. "But sometimes the fees are so prohibitive that they don't justify using one."Nevertheless, advisors say that in some cases a variable annuity ends up being the best option for a portion of an investors' retirement money.In simple terms, these annuities are a type of investment that offers some income-stream guarantees in retirement. You give an insurance company you...
What do Danny DeVito and Arnold Schwarzenegger have in common? They are part of 'gray divorce' trend

What do Danny DeVito and Arnold Schwarzenegger have in common? They are part of 'gray divorce' trend

Finance
What do Danny DeVito, Arnold Schwarzenegger and Al Gore have in common? They were all part of an increasing trend called the "gray divorce." Gray divorce is a term for what happens after 20-plus years of marriage to unhappily wed people in their 50s or older.Among U.S. adults ages 50 and up, the divorce rate has roughly doubled since the 1990s. In 2015, for every 1,000 married persons in that age category, 10 divorced — up from five in 1990, according to data from the National Center for Health Statistics and the U.S. Census Bureau. Among those ages 65 and older, the divorce rate has roughly tripled since 1990, reaching six people per 1,000 married persons in 2015.Of course, when it comes to retirement, whatever money the divorcing couple has needs to be divided — often after an expensive