UnThreaded | Threaded | Whole Thread (17) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: TimoDOZ Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75340  
Subject: Re: Inherited IRA Allocation Date: 2/20/2008 5:52 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
I have met very few people who have purchased annuities that end up being happy with what they have gotten themselves into. The long term health care annuity may be an exception. The 2 or three inches of fine print on the back of the second page of the application expains how you are about to get screwed but people buy into "safe" and "guaranteed". Variable annnuties are not safe from market disruptions and fixed annutities are not safe from interest rate risk. You are guaranteed to be forking over 10% or more up front in commissions. You will pay the same 10% or more to get out of the annuity which is why most people never do. The sales men always tell you "you could be doing so much better". Annuities are excellent for the salesmen and insurance companies that sell them. Amerisuprise... great commercials for annuities, annuities and more better annuities! The commercials don't tell you this. That should be your first warning clue. And lots of load mutual funds to recommend as well. Annuities generally are not very good for your estate either. Trusts and good estate planning attorneys are far superior to annuities. They even enable you to reach out from the grave.
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (17) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Post of the Day:
Value Hounds

Medallion Financial: TAXI!
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 "#1 Media Company to Work For" (BusinessInsider 2011)! 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