Quote:
Originally Posted by KayakerNC
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Sounds like an annuity sales pitch, be very careful.  |
Kayaker,
I bet you are right. I watch CD rates really closely and have seen nothing even close to that. That has to be an annuity pitch. I do not clearly understand annuities. Too much between the lines. I just know that you have to be super careful about them. I like liquidity too much. And I do not like to pay commissions. I avoid those annuity pitches. Annuities are not for me.
And even though the first part of your quote said that this particular one is not a bank, I just have to throw in here that many banks are sure not innocent when it comes to pitching annuities. I have a real issue with some of the bigger Cincinnati banks that require tellers to reel in older customers who have large deposits by suggesting a meeting with the bank's investment department. Older depositors in particular need to be aware that the friendly teller at the window might start working that game. Zeroing in on those larger deposits, ripe for the picking. It is often something about which the teller has no choice if the teller wants to be evaluated positively on reviews. Not all banks do this. But many do. And this practice sets me off. Not only have I seen it happen, I have heard about what it is like from a teller's point of view.
Now, I will step down from my high-horse and move forward with my day.
Boomer