No. of Recommendations: 0
The young man at the bank has suggested that I buy a variable annuity in Corporate Bonds (Hartford Insurance, in fact.)

I'm going to go out on a limb and tell you NOT to do this. The nice young man at the bank will earn a nice commission if you do this, but I don't believe it's a good investment vehicle for you.

You can buy a high-yielding corporate bond fund from Vanguard or Fidelity, and not pay any annuity fees or commissions. (Keep in mind that high yield corporate bonds are riskier than CDs, that's why they pay higher interest rates.) Is your IRA account with the bank? You might want to consider moving it to Vanguard if you want to invest with them.

I am 74 years old so no long term investments for me

My best friend is 92 and he still invests in 5 year CDs. :-)
(Told me he got one the other day yielding 4.3%.)

Print the post  


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.