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An annuity is a contract with an insurance company that provides for a series of payments to be received for a fixed or variable amount of time. Following are some of the factors that go against purchasing an annuity. Most experts advise against purchasing an annuity just to shelter earnings unless you have completely "maxed out" your other options. It is difficult to determine the real rate of return from an annuity because there are purchase and redemption charges that can be high. The high first-year interest rate which you are quoted may drop one or two points in the followin...