Annuities are an interesting instrument in financial services. They're both simple and complicated, and that combination often means they're frequently misunderstood.

To kick off Season 17 of Financial Decoder, Mark is joined again by guest Rob Williams, who heads the Financial Planning, Retirement Income, and Wealth Management team at the Schwab Center for Financial Research.

In their discussion, they break down the basic functions of annuities, some problems they attempt to solve, and the role they might play in an investor's retirement-planning strategy.

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