I recently went to the bank with 20,000.00 to invest for retirement, I am 51. I have a 401K with my employer valued at about 20,000 dollars. The financial man at the bank told me to put my money in a variable annuity, which I did, but after doing research, I am not sure that was the best idea. It was at M and T bank and the insurance carrier is Nationwide. Can you tell me what you think. I only did this 4 days ago, and believe I am in the "free look period" and if I am going to get out, I would like to do it soon, before the market fluctuates too much.. I do know that there is a fixed component and a variable component but I don't understand the prospectus at all.