BillAs others have said, it is most likely a salesman who is making this recommendation, not someone who 'advises'.How relevant an 'annuity' (and there are many different kinds of 'annuities') is to the financial needs of your niece depends on several factors, to include:1. The amount involved2. Whether she requires the inheritance to support her retirement lifestyle or it is an added amount that she doesn't require.3. Her personal goals and need for cash flow, including potential future long term care.4. Her willingness to take investment risk5. When she needs it to start working for her6. Whether it is important to leave a legacy to heirsI would suggest, as others have, that she make an appointment with a local Fee-Only CFP or CPA/PFS financial planner. You can find these by googling NAPFA or the Garrett Financial Planning Network. Her "work up" (data collection and analysis) will cost several hundred bucks, but you can be assured that it will be objective and in her best interest....not the best interest of the salesman, which I'm sure is what she's getting now.BruceM
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar