Financial planners and annuities

[unno2002]

[FONT=&quot]An example of a rental home we have, bought in 2013 for $77,500, rented for $805/month, after expenses putting in our pocket (ignoring tax write off's) a consistent $583/month. ($[/FONT][FONT=&quot]6996 per year) [/FONT][FONT=&quot]
[/FONT]
[FONT=&quot]
[/FONT]
[FONT=&quot]This is a 9% "annuity", from an appreciating asset that can be left to the spouse, kids, etc.[/FONT]

 

[JoeWras]

Friends don't let friends sell annuities.

I had a friend who semi-retired and became an "advisor". He fancies himself a planner, but there's little to no training or certifications. He used to be a regular guy, until he took a job with one of the big companies that "manages wealth."

He is now drunk on annuity commissions and basically a pain in the butt to talk to. All he wants to do is spout the sales lines mentioned in other posts. He knows my feelings about this, but it is so ingrained in his nature now, he can't get it out.

He's fast becoming a past friend.

 

[2B]

I am totally bewildered by what you guys may be talking about. I guess you may think that a 60 yo old woman should suddenly be able to do something she has never before done in her life, and be self sufficient. I say everyone has talents, and the only talents that she has that might secure for her a middle class life in her older years likely involve men. I try to live in the world as it is, not as some would like to pretend that it is. Some women are expert doctors, nurses, lawyers and engineers, some are also intelligent and attractive but have never accomplished much that might earn them money. Maybe she should become a coder at age 60?

So is there some remarkable revelation involved here?



Ha

I wasn't disagreeing with you. Her skill is being a companion/wife. It's not like you were advocating her "working the streets" but being in the right place to meet older gentlemen that might be interested in someone like her. If the relationship is mutual, that's all for the good.