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Subject:  Re: variable annuity question Date:  1/8/2004  8:38 PM
Author:  cliff666 Number:  38428 of 88520

I looked at the annuity (New York Life) 50% invested in a fixed account earning 3%, 45% in a junk bond fund and 5% in an international stock fund. Yikes right away I hated it but she is worried about losing money.

That banker S.O.B. should have his gonads removed without anaesthetic. I would think she is in great danger of losing her money in these funds. If interest rates go up (Wanna bet they won't?), her money will vanish like smoke in the air on a windy day. Sadly, she likely can't do anything about it at this point.

Her best bet is to complain to the bank management, and threaten a lawsuit. I don't have a clue about how to redress this, but that banker was only thinking of his commission. Where is The Badger?


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