Annuity... Good or bad?

[CincyDem]

2. Have him call independent financial advisor.

You're looking for a firm that is a fee only Registered Investment Advisor. Look at the bottom of their web page for the phrase "Securities offered through blah blah blah"...where that's the name of their broker. When you find that, move on because they're not really fee only.

Find someone you like and sign up. Get everything in place. Probably cost 4-6k for the first year's fees but you can always, at any time, walk away. Probably work it to make sure that your friend's 600k gets structure right at the beginning because it's a pain in the butt to try to do it again if it's not right.

A SPIA could be part of a solution and, as in all thing finance, rarely is one thing all of the solution.

Good luck.