Quote:
Originally Posted by rsmurano
There is no place on earth that a financial advisor or an annuity is needed.
Let me see, your business model is to make the most money off your investments. What is the financial advisors business model, too make the most money off of you. How does that benefit you?
Now an advisor who charges by the hours is ok to use so you can review his/her proposal and then you make the trades. I would also not use an advisor associated with any brokerage house because they will try to get you to buy house funds. I have personal experience of this on more then 1 occasion.
Annuities are just terrible. High fees, low returns. Again, the person holding the annuity isn’t the person making the money.
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FYI Fixed and Fixed-Index Aunnity do not have annual fees unless you add a rider (which I don’t recommend riders). Annuities work great for those who is do not want to be in the market not all people have the risk tolerance for the market.
If you’re talking about fees, maybe you’re talking about variable annuities and which in that case I agree with you variable annuities are high in fees, they do cost too much and if you’re gonna be in the market just be in the market don’t do it an annuity , I agree.
When you want funds out of the market (20% to 30% of net worth)fixed annuities are a good alternative to money markets or CDs.
I can give you examples
I believe in simple straightforward short term annuities
Question funds you can’t afford to lose or you want completely risk free from market loss….what do you do?