Clark wants to talk again about variable annuities and the damage they can do to seniors’ bank accounts. Road shows where variable annuities are sold are popping up all over the country. The target is “nursing home age” people and the hook is a free meal. Once the salespeople have them hooked, they push annuities with a 7 percent guarantee on investment. Sounds impressive right? Well, what these people aren’t told is that annuities have huge commissions that eat up your money. In addition, the penalty to get out of an annuity is 17.5 percent of the money you invested. And the 7 percent is not a guarantee at all. So, in sum, there is never a time when people – older folks especially - should buy a variable annuity. The groups that are supposed to regulate this industry are doing nothing. So, it’s up to you to protect your money and to tell your relatives about it. If your parents tell you they that they have gotten an invitation to a free breakfast, tell them not to go and treat them to a breakfast yourself.