Are you potentially wasting thousands? Here are 5 things US retirees are told to buy (but don't actually need)

Group 1 - The article highlights that retirement, ideally a relaxing phase, often leads to financial worries for retirees, making them vulnerable to misleading financial products [1] - It emphasizes that retirees should be cautious of products marketed as "guaranteed income" or "financial protection" [1] Group 2 - Life insurance is primarily for income replacement and may not be necessary after age 60, especially for those without dependents [2][3] - Indexed annuities, while popular, are complex, often come with high fees, and may underperform compared to expectations, suggesting that low-cost index funds could be a better alternative [4][5] - Exotic or complicated investments may seem appealing but often carry hidden risks that can outweigh their potential benefits [6]