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Old 10-27-2008, 09:53 AM   #141
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Well, right from the horses mouth.....

I gotta get a new PR person.......if Suze can make millions talking out of her butt, I should be the next financial "guru".......
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Old 10-27-2008, 10:08 AM   #142
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This is an academic discussion right? I mean someone in his 15th going on 16th yr of retirement shouldn't take this serious - right? .

Next year when I turn 66 - I'll be too old for ER - just be a regular retired.

40% - early SS/non cola pension 60% - 4% SWR from Target Retirement IRA.

Or 3% SEC yield until the cows come - cause I was really really cheap in early ER.

Plus I sold and ate the duplex proceeds early in ER as well as one year temp work.

Did I miss any bases? I count SS as my annuity.

heh heh heh - psst Wellesley lest I forget.
Well, if I'm understanding your post then you already have a pension. If this is true, then you have an advantage over a major portion of the
population. No one is saying that a VA is right for everyone.
BTW, your Wellesley fund is down about 21% from last year.
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Old 10-27-2008, 10:10 AM   #143
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So the highly edited clip from old Suze says a VA makes sense provided 1) you die when the market is down but 2) only if you've sprung for the added cost (on top of fees on top of commissions) of the death benefit.

I'm working hard to avoid both options...

LOL! Highly edited? What was edited about it? And yes, if you died during a down market (kind'a like today) your heirs would be much better off. Of course, Susie didn't even touch on the living benefit whereas if you LIVED, you'd be better off today as well, but who the heck wants to consider facts in this discussion.
BTW, it's pretty tough to find a VA that DOESN'T have the death benefit. And there's no extra charge for it, but again, facts.....bahhh! Who needs 'em!
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Old 10-27-2008, 10:16 AM   #144
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Here's the bottom line on the VA debate. If the market keeps going up forever then, yes, you've wasted your money. However, in this very market we happen to be living in, the VA is doing just what you've paid for it to do. Just as if your house burns down, that fire insurance you wasted your money on all those years, comes in handy. Or that Blue Cross insurance you've paid for comes in handy if you need cancer treatments. All insurance is a waste until you need it. What's more of an emergency than going broke while retired?
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Old 10-27-2008, 10:16 AM   #145
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Susie didn't even touch on the living benefit whereas if you LIVED, you'd be better off today as well, but who the heck wants to consider facts in this discussion.
Fact: You are attempting to convince a group of reasonably sophisticated investors that buying a Variable Annuity, an insurance product laced with fees, commissions, buried costs, and market risks, is a good idea.

Fact: Not going to happen.
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Old 10-27-2008, 11:35 AM   #146
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And one more fact, right now I know a ton of people who are thrilled to death that they moved from good quality mutual funds into them. How odd that they're not opposed to paying an extra percent to protect them from their 30% losses.
The real problem here is that people like you have shamed others into not being open minded. I wonder if that's how the Salem Witch trials took place?
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Old 10-27-2008, 11:36 AM   #147
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And one more fact, right now I know a ton of people who are thrilled to death that they moved from good quality mutual funds into them.
You lost me with the "to death" requirement...
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Old 10-27-2008, 11:38 AM   #148
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Excellent. This thread is over when it gets compared to either Hitler, Nazis or Salem Witch trials. Internet rule 6427.82
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Old 10-27-2008, 11:39 AM   #149
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You lost me with the "to death" requirement...
How about "till death do us part"? I distinctly remember uttering that phrase 13 years ago.........
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Old 10-27-2008, 12:06 PM   #150
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Excellent. This thread is over when it gets compared to either Hitler, Nazis or Salem Witch trials. Internet rule 6427.82

Can't use Salem Witch trials?? When did this get added to the no speak list? I didn't get the memo.
What about the Crusades? Can I compare it to those? BTW, I believe Robin Hood was a Democrat.
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Old 10-27-2008, 12:07 PM   #151
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You lost me with the "to death" requirement...
It's not a requirement, [Mod - personal insult deleted] !
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Old 10-27-2008, 12:14 PM   #152
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Excellent. This thread is over when it gets compared to either Hitler, Nazis or Salem Witch trials. Internet rule 6427.82
Bad day?
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Old 10-27-2008, 12:54 PM   #153
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No, Im in a good mood. It was my attempt to be funny. Obviously I failed miserably. I wont quit my day job as a stock market predictor.

Dow will be 10000 by the end of a year.
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Old 10-27-2008, 03:33 PM   #154
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Dow will be 10000 by the end of a year.
The end of which year?
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Old 10-27-2008, 04:02 PM   #155
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The end of which year?
Thats up grabs.
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Old 10-27-2008, 04:13 PM   #156
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No, Im in a good mood. It was my attempt to be funny. Obviously I failed miserably. I wont quit my day job as a stock market predictor.

Dow will be 10000 by the end of a year.
Hey, you made me laugh! Are we touching bottom yet, oh prognosticator? (go ahead, hit that one out of the park )
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Old 10-27-2008, 11:51 PM   #157
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Hey, umm, about those super-solid insurance companies that we're supposed to give all our money to. Dbl Doc just posted an interesting link on another thread .

Yep, no reason to worry folks.
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Old 10-28-2008, 01:06 AM   #158
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I am dying (which I guess is the best way to own a VA) to see Art spin how great VA when it turns out the insurance companies didn't probably hedge "the guarantee you can't lose money in VA feature."

It seems me that with absurdly low rates for T-Bills and the 40% market decline, and record volatility. it would be virtually impossible for an insurance company to offer a product that promise to capture "75% of the upside of the market", but will guarantee that you get your money back in 10 years. Brewer started a thread on how to replicate a VA using options, and CDs. Any insurance company that wrote a VA several years ago during times low volatility and high CD rates is hosed trying to duplicate this now.

I predict that state insurance funds are the next victim.
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Old 10-28-2008, 04:31 AM   #159
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I predict that state insurance funds are the next victim.
They are generally underfunded and do not represent a "full faith and credt" on the state. It's all paid for by the insurance companies that operate in that state based on their sales. If the "big one" hits, these pools will become very strained very quickly. I suspect the feds will bail them out but they are going to be very limited in what is covered. The federal bail out may not happen right away so a lot of checks may not show up before they come in.
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Old 10-28-2008, 07:20 AM   #160
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And one more fact, right now I know a ton of people who are thrilled to death that they moved from good quality mutual funds into them. How odd that they're not opposed to paying an extra percent to protect them from their 30% losses.
Ask those same people how they feel about it when the market is up
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