No. of Recommendations: 0
One of my golf partners said a neighbor asked for his financial advice. She's an 87-year-old widow with some money in a Fidelity Muni Bond Fund.

A Fidelity "Advisor" asked her to come down to the office because her muni bonds were "tanking". Advisor suggested selling the muni bond funds and putting 50% in a money market fund and 50% in an annuity. She has enough income from other sources to meet her expenses, so she wasn't spending any of the muni bond income to begin with.

Hard for me to see why an 87-year-old in her position would need an annuity of any species or description.

intercst
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement