Quote:
Originally Posted by Glenwood
Have been considering purchasing an annuity. It's called ATHENE Ascent Pro 10 Annuity. It is classified as a single premium fixed indexed deferred annuity.
Has anyone heard of ATHENE or this particular product?
THANKS.
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BEWARE-Almost all advice comes from someone trying to sell you something.
I do not claim to be familiar with that one BUT, the title
SINGLE PREMIUM FIXED INDEXED DEFERRED ANNUITY. My reply is HUH? Fixed/indexed are conflicting terms. It is either fixed or it is indexed.
The reason why people are PUSHING annuities is because the COMMISSION is very good for the person selling it. Single premium means you give the company a given amount of money. If, the commission is say 10%, if, you pay/invest/buy 100,000 worth the invested money available to generate the promised return is 90,000-yiur 100,000-10% is 90,000.
There are some tax advantages with an annuity-you should discuss that with a qualified accountant.
If, you are thinking about an annuity because you want or need income every week, month or????? You can find tables on the internet that will show you that if you have ??????? dollars and are earning ??????? return how long will the money last. The number used to be published from some sort of study that you money will last your lifetime if you spend 4% or less per year.
I am proudly contrarian. All you need to know is when you will die, the rate of inflation between now and your death,
the cost of medical care-rising faster than the rate of inflation and the rate of return on your investments till the day you pass away and you will know for sure exactly what to do. TROUBLE IS MUCH/ALL YOU NEED TO KNOW IS UNKNOWN. AT BEST WE HAVE GUESSES AND THEY ARE OFTEN WRONG.