That would be an incredibly awful deal for a 40yo, since it’s not inflation adjusted, so in 10 years you’ll be kicking yourself for having converted real assets

That would be an incredibly awful deal for a 40yo, since it’s not inflation adjusted, so in 10 years you’ll be kicking yourself for having converted real assets into fixed nominal returns. Annuities really just work well if you are 80+ and want to insure against longevity risk.