Investing has changed over the past 60 years as illustrated through old episode of "Father Knows Best." While we still buy annuities as investments, we have many more (and often far better) choices. Yet, insurance companies, banks, Wall Street keeps working against you with products that aren't in your best interests.
Plus, buying a house is not a real investment. The only way that you can effectively invest in real estate is if you make a business out of it or invest in commercial real estate through REITs and much more.