My wife and I are retired and drawing Social Security. We also have $ 200,000 in a retirement account that’s invested in a CD. We’re thinking of transferring that money to an immediate annuity. Do you think that’s a good idea? –Anthony, Arizona
The answer depends on what you’re hoping to achieve. If you’re thinking of making this move just because you’re dissatisfied with the low rate of return you’re earning on your CD, then I’d say you ought to re-consider. An immediate annuity isn’t the kind of investment you move into solely in hopes of earning a higher return.