FinanceDude
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Aug 3, 2006
- Messages
- 12,483
Not us ...I wonder how many of the people who bought the immediate income annuities like SPIAs are already collecting Social Security and aren't yet 70...
Buy one? I want to run out and sell a whole lot of these. Wonder if insurance companies will retrain oldsters?Man, I don't want to be left out. I'm gonna run out today and buy me one of them things.
You know, one of the ones with 100 pages of disclosure that I don't understand, gotta have it.
The environment for income annuities is horrible because of the interest rate situation, but maybe some people are so desperate for something resembling a pension that they are paying record-high prices for any guaranteed lifetime income stream they can find.
I wonder how many of the people who bought the immediate income annuities like SPIAs are already collecting Social Security and aren't yet 70...
Buy one? I want to run out and sell a whole lot of these. Wonder if insurance companies will retrain oldsters?
Just because we do not like these annuities does not mean people should not be able to buy them. After all, they can buy cigarettes and booze can't they? At least index annuities do not kill innocent people trying to drive to work.
If people trade money for these things, it only means that they were never intended to be the rightful, long term custodians of that money. Financial product salepeople are only trying to reverse entropy, always a difficult and admirable undertaking.
Sometimes it is unclear who the good guys are.
+1.The environment for income annuities is horrible because of the interest rate situation, but maybe some people are so desperate for something resembling a pension that they are paying record-high prices for any guaranteed lifetime income stream they can find.
. Buy one? I want to run out and sell a whole lot of these. Wonder if insurance companies will retrain oldsters?
PETA alert...Double PETA alert!!!