The survey managers intentionally designed the sample to include extra retirees, annuity owners, and investors with at least $250,000 in investments. The survey team collected responses from 1,004 U.S. adults ages 50 to 75. About 25% of the participants said they owned CDs, and 23% said they owned annuities.
Here's what the survey participants did not know about CDs:
- 64% did not know how much cash they would need to get a CD.
- 60% did not know the current rate of return.
- 38% did not know what happens when a CD matures.
Here's what the participants did not know about deferred fixed annuities:
- 88% did not know how much they would need to get a deferred fixed annuity.
- 76% did not know the current rate of return.
- 68% did not know when happens when the contract matures.
But Fidelity did find one area where annuities had the edge: awareness of how to buy the product.
About 51% of the survey participants did not know they could get a CD from an investment firm, and 74% did not know they could get a CD from an independent financial advisor.
Only 44% of the participants did not know they could an annuity from an investment firm, and only 51% did not know that they could get annuities from independent financial advisors.
(Image: Alexander Bedrin/Thinkstock) 
