Annuities can be a smart choice only if consumers fully understand what it was designed to do, it they had better knowledge on how it really works, what are the limitations and features, it can be deceptive if you are less informed. However, myths and misconceptions often serve as a deterrent why people do not consider buying an annuity. Some of the common misconception are the cost and fees associated with annuity, as discussed in www.annuitydirect.org/5-myths-about-annuities, many consumers think that annuities have hidden fees and charges, contrary to this, the fees are disclosed in the contract that the insurance company issue so it is important to read the fine print, in addition, people think that once you buy an annuity, it’s hard to access the money, which is also not necessarily correct, If you word with a qualified professional, you will have a better grasp about how annuities work and how it may benefit you. So don’t just believe into myths, educate yourself first about things that you need to know.