Quote:
Originally Posted by sail33or
To all the folks that say what return they are getting:
They are paying you these returns with your "OWN" money you just gave them.
So theoretically I can give you any return you like up to the point "YOUR" money and its real return runs out.
Of course there are zillions of types and all complicated but it is no longer your money when you "BUY" an annuity.
BUY EXXON (pays huge dividend, always has) and quit worrying. Let them talk electric all they want, in your lifetime it takes more oil to manufacture, deliver and charge electric cars. As long as Jet Airplanes fly, Exxon will be paying dividends.
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Really? I started an annuity with an inherited annuity from my mother when she passed away. It was for $113,000. On the advice of my broker, we rolled that over into an LFG variable annuity with income for life as well as a life insurance policy to pay out to my wife in the event of my death.
I have received ~48 months of payments to the total of ~$26,000. So, by your reasoning, I should have a balance of $87,000, right? Please explain to me why my balance is now $111,000? Also, YTD return is 8.5%. Since the date of inception, the rate of return is around 5.5%. The minimum percentage is 4%.
Now, I understand that they are paying me with the return on the investments, but I don’t care if they make money as well. If they didn’t, there would be no annuities.