Is an annuity the best form of investment for my situation?

I'm 68 years old with no family whatsoever. I have $30,000 in a 401(k) and $220,000 in cash (savings). I need to generate some income from those monies because my Social Security is low. Financial planners suggest an annuity, but I've always heard to stay away from annuities due to fees. What would be the best ROI for me?

Investing, Annuities
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July 2017
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Many financial planners will suggest an annuity because they receive a high commission from selling it. While you do want to consider potential downside risk, you should also be aware of other annuity cons such as typically capped returns and loss of principal during the payout phase. You might want to consider a conservative to moderate ETF portfolio instead, which can be managed to provide income and targeted to keep up with inflation at Betterment.

July 2017
July 2017
July 2017
July 2017