Annuities are a lot like electric. Every year, there are model upgrades. But there's a dark side.
Electric vehicles destroy the environment. The electricity is produced with fossil fuels in a place far from the driver. The absence of exhaust leads to feelings of user virtue, albeit phantom. Furthermore, the cobalt strip mining causes irreparable damage to the African landscape and death to too many manual laborers.
Nonetheless, I can't wait to get a Rivian R1S. Unfortunately, mine wasn't ready in time for my Volkswagen business lease to renew. Hopefully, in 3 years the electrical vehicle industry will upgrade and will solve the ecological devastation endemic to electric vehicles.
Annuities are similar in that every year through innovation, competition and economies of scale they "upgrade." I use quotation marks because not all the bells and whistles on an annuity are indeed upgrades. Some are superfluous and complicated. Too many retirees don't even know what they have or why the chose it in the first place.
Given that, I'd like to provide an eBook on what to look out for. I'm also happy to use our software to help you score your existing annuity and see if we can indeed upgrade it.