hello all,
I just visited my fido advise/rep for a yearly chat, I asked for ideas/direction on what to do with some cash I have from selling off some mid to long term bond funds recently, he advised to put it in a a 5 year CD at a return of 2.35%. That sounded OK so I asked a few more questions about the "CD". we then discussed a few more asset allocations issues and then he asked if I wanted to do the paperwork for the CD, I told him I would just do it on line and his reply was that I needed to sign papers at the office. then he stated it a was an annuity. that raised a red flag for me and I requested the paperwork and left. it's for a fixed deferred annuity. it would be over 25% of my IRA, the rest of my IRA is a 60/40 stock/bonds mix at this time.
Should I be leery of this sales pitch? It just doesn't seem right for me.
Dawgster.
I just visited my fido advise/rep for a yearly chat, I asked for ideas/direction on what to do with some cash I have from selling off some mid to long term bond funds recently, he advised to put it in a a 5 year CD at a return of 2.35%. That sounded OK so I asked a few more questions about the "CD". we then discussed a few more asset allocations issues and then he asked if I wanted to do the paperwork for the CD, I told him I would just do it on line and his reply was that I needed to sign papers at the office. then he stated it a was an annuity. that raised a red flag for me and I requested the paperwork and left. it's for a fixed deferred annuity. it would be over 25% of my IRA, the rest of my IRA is a 60/40 stock/bonds mix at this time.
Should I be leery of this sales pitch? It just doesn't seem right for me.
Dawgster.