The replies are not factually wrong but are misleading, incomplete, and does not account for client's risk profile or for financial goals. Based on the brief description of OP's needs for way's to reduce AMT, deferred annuity (fixed or variable) is a viable option going forward. There are some important features in an annuity that you can not get in a mutual fund, indexed funds, stocks, CD's or bonds whether they be inside or outside tax qualified accounts.
The OP and replies would do well to thoroughly familiarize themselves with the pro's before they start with the cons. OP should hear the presentation for annuities many times and if necessary from different advisors to understand the pros and cons.
Disclaimer: We have annuities in and out of tax qualified plans. Approx 50% of retirement assets are in annuities and will slightly vary based on my stock trading acumen and the performance of the annuities. My trading in 2013 was up 26%. The variable annuities were up 29% after fees.
