Why Consumers Are Selling Their Annuities

Annuities are a major personal finance tool for consumers looking to lower their tax profile and plan for retirement. But, millions of people are selling annuities for liquidity options, in order to make other financial decisions. A recent press release issued by J.G. Wentworth stated that with more than $1.6 trillion of assets are backed by annuities in the U.S. alone. Michael Vaughan, managing director of the J.G. Wentworth Annuity Purchase Program