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Here's why a variable annuity, warts and all, might be a right fit for your retirement plan

Here's why a variable annuity, warts and all, might be a right fit for your retirement plan

Finance
They're not what they used to be, but variable annuities are still a major retirement-planning tool for hundreds of thousands of Americans.These insurance contracts are reviled by many financial advisors for all the right reasons: They cost a lot, they're hard to understand and they're hard to undo once you've signed a contract. The same criticisms of variable annuity contracts, however, were valid before the financial crisis — and those contracts nonetheless helped many people survive the 50 percent plunge in the stock market."I had some clients whose retirements were saved because of [variable annuity] contracts they purchased before the financial crisis," said Marc Ruiz, a financial advisor with Oak Partners and a registered rep with SII Investments.The terms and prices of variable annu...