This is all very true, I have actually done pretty well with mine, but I am always looking at my monthly statements to see how my choice of funds are doing. You can also take a very conservative approach and for instance just stay in bonds for the most part. But I also agree with your suggestion about opting for a fixed annuity if one decides to go the annuity route at all.
Originally posted by Mack-Williams:
Variable Annuities suck some of the times because folks don't know what they are doing when it comes to investing. In a Variable annuity you make all the decisions on what you want you investments to go in. With that is certain risk, like the fluctuation in the stock market. Now if you know what you are doing it might work out a little better for you. If you don't know what you are doing I would recommend a fixed annuity. The carrier takes all the risk and they aren't too aggressive when it comes to investing.
It ain't how much you know, it's what you do with what you do know!