I used to sell annuities. I was intrigued by them and initially and the way they were introduced to me, they seemed like they could really help people. Until one day, it happened...
This is the true story of how I was 'banned' from the annuity industry. I tell it not for any reason other than to let you know you may need to be aware. Aware of what? Aware of the fact that there may be...
Annuities are sold in a way to capitalize on your both your and your agent's fear and greed. There is actually a funny way of thinking about this.
On one hand there is the fear that you will lose your money, then the fear that your agent won't make his big fat commission off of you, which is closely
related to his greed of selling you the annuity over lower commission alternatives, which...
If you are thinking about using an annuity to qualify for Medicaid, there are some things that you need to know. These are warnings that if you don't pay attention to, I am sure you will most likely either get disqualified at some future point or even never qualify in the first place.
First and foremost, if you are buying an annuity to potentially allow you to qualify you for Medicaid for...
We are now approaching close to 70 years following the first Great Depression in this wonderful country. It certainly has been quite a ride and there is no question that this country has prospered tremendously since then. And many people still believe that we are soon going to recover. However, I am not so sure it's going to be that quick.
We are currently facing a breakdown of the credit...
Are annuities safe? Well, that is a question that deserves great attention.
First of all, it is important to know what type of annuity you are dealing with. Fixed annuities are safe from stock market fluctuations while variable annuities aren't. Immediate annuities are pretty much encompassed by a set of terms that are predetermined but it doesn't mean that they are safe. And while fixed...
What does it take to get your money out of your annuities? That is a great question. It is probably no surprise that your annuity has surrender charges. However, some annuities require even a little more than waiting that surrender period out to getting your money. What I am talking about are what are typically referred to as two-tier annuities. Let me explain.
So what is a two-tier annuity?...
Did you get ripped off when you bought your annuity? Maybe.
I often get called from people who own annuities and the first question they ask goes something like this: 'I own a (insert annuity name here). Did I get ripped off? It's not an easy question to answer but let's take a look at that.
Lets assume being ripped off means one of three things:
1) That you didn't exactly get what you...
Ditch the CD's and go for annuities. After all, annuities are tax deferred, often offer higher rates of return and are better....or are they? That is a question worth pondering.
It seems like everyone all over is recommending an annuity over CD's. Is it really because they are better....I THINK NOT!!!
Now, here is the truth and it shouldn't shock you: the number one reason most advisors...
Annuities that are fixed have a stated rate of return. Now, does that mean the rate is fixed and never changes for the duration of the contract? Well, that depends. There are some things that you really need to watch out for and we will attempt to cover those here.
Some fixed annuities have a stated rate for the life of the contract. These are often referred to as multi-year guarantees. That...
Many people buy annuities according to their agent's recommendations. However, many people do not even know what they own. It is a good idea to take inventory of your investments, and particularly your annuity. It is important to understand what your annuity can and cannot do and what features it has. Here are some of the things you definitely must be sure to know about your annuity:
1. What...
