Why are annuities a bad idea?

Annuities can be considered a bad idea due to their high fees and commissions, which can significantly reduce your overall returns. They often come with inflexible terms, making it difficult to access your money without incurring penalties. Additionally, some annuities have complex structures that may not be well understood by investors, leading to poor financial decisions. Finally, the potential for lower returns compared to other investment options can make them less attractive for long-term growth.