• High Fees and Expenses
• The Hard Sell
• Complexity
• Lack of Good Information
• Loss of Control
• Liquidity Constraints
• Bequest Constraints
• Credit Risk
• Misrepresentation

The following are a few key concepts to think about, look for, or listen to when developing a financial plan:

Information Gathering: This is one of the first steps in the financial planning process.  Your financial advisor should gather quite a bit of information about you and your current financial status.

A longevity annuity is arguably the most efficient way to insure longevity risk. 

Consider the following example to see why this is the case:

This forum topic is a continuation of a good question/comment that can be found here: http://www.annuitydigest.com/blog/tom/who-really-needs-annuity#comment-182

John Bogle thinks that the notion of leaving an inheritance is nice but certainly not essential.

The Vanguard founder suggests that paying attention to one's personal finances and standard of living in retirement trumps the bequest motive since adult children should be able to take care of themselves:

This discussion thread is a continuation of a frequently asked question that can be found here: http://www.annuitydigest.com/faq/what-happens-if-i-die-5-years-9-year-annuity-can-my-heirs-still-receive-principal

The question is as follows: "What happens if I die 5 years into a 9 year annuity? Can my heirs still receive the principal?"

The question basically deals with the issues of revocability and bequest motive--both of which are large issues when it comes to annuities.

The short answer is that there are many products and product options that effectively address revocability and bequest motives.

The longer answer is that it completely depends on: a) the type of annuity that you have or are considering, and; b) any "riders" or additional features the annuity might have that can address your concern.

Income limits on Roth IRA conversions are set to go away in 2010.

This opens-up an opportunity for many to benefit from the tax advantages associated with the Roth IRA.

Conversion may also make sense as a hedge against the distinct possibility of tax increases and higher tax brackets for future retirees.

That said, the Roth IRA also happens to be an enormously efficient vehicle if there is a bequest motive or desire to pass assets to heirs:

Henry "Bud" Hebeler is a former Boeing executive who has been running a retirement planning company for over twenty years.

His company, Analyze Now (www.analyzenow.com), provides information and tools that help individuals with retirement planning.  The company has helped thousands of people and is well respected among journalists and industry observers.

Brett Arends writes a personal finance column for the Wall Street Journal.

He is one of the more interesting and popular personal finance writers in the industry.  Although a subscription is required to read the Wall Street Journal, Arends' column (among other Journal features) is highly recommended.