Quote:
Originally Posted by CoachKandSportsguy
the question is why use an MYGA annuity instrument for this purpose in an IRA? What is the advantage over buying 5 year CDs, 5 year treasuries or 5 year corporate bonds with similar interest rates?
Second, did you pay a front end load fee for this annuity?
Third, since there is no taxes in an IRA, why pay for a tax deferred annuity?
thanks, just curious as to what am i missing as this is not my first, second or third choice for IRA instruments. .
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According to Federal law,
"All financial advisors who provide advice regarding retirement plans must act as fiduciaries and put their clients' interests ahead of their own. The new rule is designed to help investors avoid conflicts of interest that can result in lower returns, higher fees, and other adverse outcomes."
In my opinion, recommending a taxed deferred annuity to invest IRA funds, which are already tax deferred, is not acting as a fiduciary.