The only people making money from annuities are the salesman. You missed out from some of the biggest gains in the stock market from 2017-2020 in history. You lost $90k I’m assuming ytd, I made $140k in the last 2 months from 1 etf, so you can still make money, just not in annuities.
I get it, keep investing in the market, even more so when it’s down since you will buy more shares and eventually it will come back. This is true, especially when your 40, 65 or older, not so sure.
In years past, I never sold a share in 2007 or in 2020, but I sold everything early this year (did buy into an etf a few months ago). Market is down 20-30% and I think it will still get worse. So instead of waiting a year or more after the market starts to recover to regain all the losses, I will jump back in and make 20-30% while the market recovers. Cash is king in a down market. You can’t time the market, so I might miss a few % gain from the start of the economy rebound, but it will be a good gain.
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