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Old 09-27-2011, 03:54 PM   #121
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70 souinds like a good age
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Old 09-27-2011, 03:55 PM   #122
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Finance Dude, the term 'locking up' is inaccurate and over used. When someone buys a bond is his money locked up. How about a cd? Even with a stock there is always a chance of selling at the wrong time. Remenber that the annuity is for long term planning, not short term liquidity. Do you have all your funds in one mutual fund or one stock? I should hope not. Lets open up to the proper use of an annuity.
A treasury bond is anything but locked up.
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Old 09-27-2011, 03:56 PM   #123
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70 souinds like a good age
Sounds like a good age to do what?
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Old 09-27-2011, 04:01 PM   #124
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Sounds like a good age to do what?
To celebrate your 20th anniversary of retirement...
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Old 09-27-2011, 04:03 PM   #125
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So, I have to last 150 posts for you to buy lunch for Wahoo. My pleasure. BTW. Wahoo looks like he likes his meat raw.
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Old 09-27-2011, 04:04 PM   #126
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BTW. Wahoo looks like he likes his meat raw.
Nah...just annuity salesmen...
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Old 09-27-2011, 04:06 PM   #127
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T Bills do not have a maturity date? Yep, you can sell a T Bill, but, still, they are not liquid. Have you seen rates lately?
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Old 09-27-2011, 04:08 PM   #128
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T Bills do not have a maturity date? Yep, you can sell a T Bill, but, still, they are not liquid. Have you seen rates lately?
Treasuries not liquid? Easiest thing in the world to sell. Literally.
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Old 09-27-2011, 04:11 PM   #129
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Treasuries not liquid? Easiest thing in the world to sell. Literally.
And realistically few individuals own individual T-bills. Most folks hold them in the form of money market funds which are even easier to sell.
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Old 09-27-2011, 04:24 PM   #130
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And realistically few individuals own individual T-bills. Most folks hold them in the form of money market funds which are even easier to sell.
Exactly. Or short term bond funds. I can't believe an annuity salesman talks about liquidity and then disses treasuries.

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Remenber that the annuity is for long term planning, not short term liquidity. .
So you sell one to a 79 year old widow?
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Old 09-27-2011, 04:30 PM   #131
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REgarding the 70 yo: A SPIA w/ 10 year certain was recommended. But her advisor kept her in the markets.

Curious: Why all the protection for brokers and attacks on insurance? Brokers are above reproach? Or si this just a pack mentality?
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Old 09-27-2011, 04:32 PM   #132
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Oh boy. Setting up the lawn chairs for a good view.
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Old 09-27-2011, 04:32 PM   #133
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Curious: Why all the protection for brokers and attacks on insurance? Brokers are above reproach? Or si this just a pack mentality?
We don't tend to have wave after wave of commissioned brokers trying to convince us to buy stocks.
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Old 09-27-2011, 04:33 PM   #134
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REgarding the 70 yo: A SPIA w/ 10 year certain was recommended. But her advisor kept her in the markets.
A few minutes ago she was 79...

No one here is going to argue she should have been "in the markets" to begin with. If you spent some time understanding what this forum is all about rather than selling, you'd know that already.
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Old 09-27-2011, 04:38 PM   #135
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We don't tend to have wave after wave of commissioned brokers trying to convince us to buy stocks.
No, they try to convince us to pay them to manage our portfolios or to use actively managed funds, etc.

Brokers, planners, advisers, etc. also get their time on the stand here........ But there's something special about annuity salesfolks because they seem to be the shiftiest of them all.

Note - certain annuities in certain situations can be a useful tool and worth the expense. It's too bad salesfolks predominantly push the high commission products to anyone who will pay the load.
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Old 09-27-2011, 04:40 PM   #136
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T Bills do not have a maturity date? Yep, you can sell a T Bill, but, still, they are not liquid. Have you seen rates lately?
This just sounds like it came from an annuity salesperson.
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Old 09-27-2011, 04:51 PM   #137
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I have sat down with a surviving spouse who was at a total loss as to what to do with her husband's portfolio. This at a time when the markets were sinking. Her advisor assured her the markets would recover. She was at the age of 79 at the time.
So you sold her a really good deferred variable annuity, and a nice universal life policy, right? (Note: I have first-hand experience with this. Wrapping up my mom's estate and trust was educational.)
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Old 09-27-2011, 05:06 PM   #138
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Not too many 79 year-old widows on the Early-Retirement forum...
There are a few of us in about 18 to 25 years !
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Old 09-27-2011, 05:09 PM   #139
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Well Ziggy, it appears you are pretty astute when it comes to investing. The annuity option may not be your best option. I have sat down with a surviving spouse who was at a total loss as to what to do with her husband's portfolio. This at a time when the markets were sinking. Her advisor assured her the markets would recover. She was at the age of 79 at the time. Someone kindly told her annuities were a bad thing. The annuity is not the total answer. But it serves very well the retired population who does not have the time window or the savvy to invest in the markets.
Turned out the advisor was right (the market did recover). On the other hand, you asked her to liquidate her portfolio at the worst possible time so that she could buy an annuity product. How would that have served her well?
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Old 09-27-2011, 07:05 PM   #140
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She needed income, not anxiety. The market recovery was short term. There are those who are at the same place as they were 10 years ago, still waiting for their brokers to earn their fees.
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