Wall Street Captures Billions A Year In Fees On American Retirement Savings

Fran Schuber was 83 years old when insurance agent Glenn Neasham knocked on her door. Schuber wanted to diversify her retirement savings portfolio, and Neasham had just the investment for her: an indexed annuity. The upside: The product offered tax-deferred earnings and a nice return. The downside: Schuber couldn't withdraw the funds for 10 years without facing steep penalties.