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Old 04-14-2008, 05:15 PM   #41
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I have been in the industry for a long time. I can do funds or life products. This is nothing more than a news story to create news. Annuities are great for many people. I would not buy from the companies that were in this news article, because they are on the bottom of the pile. There are some great products out there. Their are 1,3,4,5,6,7,8,9,10+ year annuities. Those guys were nothing more than life only agents who only represented one product, the one with the highest commissions.
The other guy that talked about fees in other products was right on, I can make more long term doing other things, but it is not about what I make. It is my job to do what I think is best for the client. This news article at most just highlighted what is in reality a handful of bad apples.
Do a search on google for a youtube video by Suzie Orman ripping annuities, she gets busted pretty good from the first caller.
I have some well to do friends in the business, who have been investing for a long time who still chose variable annuities. There is a place for just about every thing out there.
For the guy who mentioned something about a 50% surrender charge-I have never heard of anything like that in anyway, the shame would go to the insurance commissioner who approved that product. You guys just confirm that you do not know anything about annuities, you saw one video clip and your an expert.
Did you know ben bernake has a large amount of money in annuities? Did you know many government plans and retirment plans are in annuities?
There are many annuities I would not touch with a ten foot pole, there are many I would recommend.
The one advisor who was against it across the board, is probably just trying to build his mutual fund business.

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Old 04-14-2008, 05:18 PM   #42
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Ahh the underside of the Mattress is starting to look better.

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Old 04-14-2008, 05:32 PM   #43
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i like the idea of immeadiate annuties as the big pile of dead people is something i cant do on my own which enhances the return beyond what i can get on my own. i do like brewers self made index linked cd and am going to try it myself. THANKS BREWER, very nice strategy. im going to try the 55% participation idea.
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Old 04-14-2008, 06:01 PM   #44
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Originally Posted by mattburk View Post
I have some well to do friends in the business, who have been investing for a long time who still chose variable annuities. There are many annuities I would not touch with a ten foot pole, there are many I would recommend.
Well, recommend a few. I already own some VA's and am looking for a place to go with that money. I suppose you can't without knowing exactly my needs. Let's just say I want the highest return possible with risk being a very high concern. Conservative investor not needing any home runs.
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Old 04-14-2008, 06:36 PM   #45
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Do you want eia or variable?
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Old 04-14-2008, 06:58 PM   #46
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Originally Posted by mattburk View Post
Do you want eia or variable?
Just a "friendly" warning, we do not take kindly to sales pitches of any sort here. You are, IMO, stepping over the line.
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Old 04-14-2008, 07:07 PM   #47
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Well, RockOn did ask for recommendations.

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