Quote:
Originally Posted by Federspiel
I purchased 3 Fixed Indexed Annuities 13 years ago. Dumbest thing I have ever done. Read the contract in detail. You will never understand it.. Indexed usually to S&P 500. When market declines this year (and it will), buy a simple S&P 500 index fund. Had I done that, I would have been hundreds of thousands richer. If you can't understand the contract, run. Administrative fees will eat up your savings.
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There are no admin fees on Fixed annuities unless you add riders. Sounds like you have an agents that doesn’t care.
Sorry they didn’t sell the right one to you.
Not all annuities are created equal. You are right buyer beware.
Stop adding riders to your annuities