Hybrid annuities solve the liquidity problem of other annuities, providing some growth as well as some guarantee of income, says Rob Wheat, investment advisor representative, insurance agent and owner of Wealth Harmonics in Dallas. A hybrid annuity allows investors to allocate a portion of assets to a fixed annuity and a portion to a variable annuity. "I look at hybrid annuities as the income leg in their retirement plan," Wheat says.

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