While most Americans are seeking guaranteed retirement income, a new white paper says that unguaranteed investment-only variable annuities can sometimes top guaranteed VAs in wealth accumulation for either retirement or legacy potential.

The white paper, "A New Approach to Retirement Income: Next Gen vs. Traditional VAs," from Jefferson National and Wade Pfau, Ph.D., retirement income professor at the American College of Financial Services, pointed out that compounding fees can drag down the money accumulated in a guaranteed VA over time, leaving less available than one with lower costs.

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