Evensky, in Reversal, Sees Annuities as Vital for Retirement

ThinkAdvisor - Harold Evensky, a personal financial planning professor at Texas Tech and 'father of financial planning' explains why he changed his mind about annuities and how investors can ensure they're getting good advice.

The perennial Rodney Dangerfield of investments is on the cusp of getting a slew of respect: Annuities are poised to become the most important investment vehicle of the next decade. That's what the "father of financial planning," advisor Harold Evensky, told ThinkAdvisor in an interview.

Chairman of Evensky & Katz/Foldes Financial, the biggest independent RIA in South Florida and managing more than $1.5 billion in assets from some 800 clients, Evensky, who formerly shunned annuities, calls the immediate annuity a powerful vehicle that's virtually the only strategy to ensure maintaining one's standard of living in retirement.

Continue reading to learn more about Evensky's reasoning.