Recent content by Retirement Mechanic

To ReWahoo: Thanks for letting me know my comments were not directed at the initial response. First time on this site. You are right, I'm on the wrong forum.

Pal, my one note was in defense to the asine comments from the deep well of ignorance.

Although I now realize this is not an educational forum, I'd be happy to show you a 10 year back dated annuity illustration that would display actual income guarantees, or, how about a spread sheet of actual income riders as guaranteed by the various carriers. I could also send over actual...

Ye3p, I bet you know them all. I drink snake oil for breakfast and run over old ladies at street corners.

No, I did not, nor would I have. I'm sure your personal experience covers the whole width and breath of income strategies

My attempt was to initially answer an annuity question. But, instead I ran into a hornets nest of experts on annuities.

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.

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?

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?

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.

70 souinds like a good age

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...

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...

Obviously. with you I am wasting my time.

Well, kindly allow me to fix a bit of misinformation. You are mixing up two types of annuities, as most people do. There is the fixed and fixed index annuity and there is the variable annuity. The variable annuity typically has all the different charges you speak of. They also have the...