What are the disadvantages of investing in an annuity?

What are the disadvantages of investing in an annuity?

The main drawbacks are the long-term contract, loss of control over your investment, low or no interest earned, and high fees. There are also fewer liquidity options with annuities, and you have to wait until age 59.5 to withdraw any money from the annuity without penalty.

See also  How much supplemental life insurance do you need?