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Uptick in riskier annuities purchases

Data: Secure Retirement Institute; Chart: Naema Ahmed/Axios

Purchases of variable annuities hit a three-year high last quarter, according to new sales figures released by the Secure Retirement Institute.

Why it matters, per Axios Business Managing Editor Jennifer Kingson: Variable annuities, meant to generate income in retirement, fluctuate depending on the performance of various markets. The fact that consumers are buying them is another indicator of economic confidence.

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