My former adviser recommended that I, on the eve of retirement, take out a mortgage on my fully paid-for home to buy a variable annuity from her. I would have gone from having zero layers of humans between me and a valuable asset (100% equity in my home) to three layers of humans between me and my asset. First layer was her (collecting the fat commission on that annuity). Second layer was the insurance company selling that notoriously questionable product, and lastly the fund managers of the mutual funds into which the insurance company would invest my annuity dollars. Everybody would be taking their cut, and I would be last in line for value. How did I fix the problem? You'll notice I began by describing that person as my former adviser.