My father is a very risk averse person. He also doesn't understand investing at all. He has a small nest egg and continues to work part-time while also drawing SS.
Yesterday, i got a mailer from the ACLU about their charitable annuity program. The rates they offer are tied to age, but for my father, it would be about 5.3%. He has always claimed that if he could just get 5% guaranteed return, he would be happy.
Any thoughts or experiences with these kinds of annuities?