Watty56 writes,Generally any annuity other than a low cost single premium immediate annuity (which is like buying a pension) are poor to terrible choices because of all the restrictions and fees and commissions that the insurance companies load these with. In addition a major factor in determining how much an annuity pays is the current interest rates. Just like the low rate make it a generally favorable time to get a mortgage; it also makes it a generally unfavorable time to lock your money in an annuity. </snip>Even a "low-cost" single premium annuity is a bad deal for most people. For someone of average mortality, about 30% of the purchase price of the annuity is lost to the insurance company's various fees and costs.http://www.retireearlyhomepage.com/annuity_costs.htmlintercst
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. Earnings Estimates, Analyst Ra