Annuities can play a major and very important role in Retirement Planning. In my profession, the main objection from clients and others is the cost. My counter argument is , my two favorite words in retirement are "Guaranteed Income", and I therefore believe a fixed and or variable annuity while more expensive than a traditional investment (individual stock, bonds and mutual funds) is worth the cost. My other favorite statement is "Something is only expensive in the absence of value." If you, the consumer/client, do not perceive the value of the annuity contract, than it is not for you. Discuss the merits of this statement and of using annuities in and out of an IRA