Talk of The Villages Florida - View Single Post - Retirement Income: Ensuring Income throughout Retirement Requires Difficult Choices
Thread: Retirement Income: Ensuring Income throughout Retirement Requires Difficult Choices
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Old 07-02-2011, 07:26 AM
CTgolfer CTgolfer is offline
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Default Learning experience on annuities
When we moved to the Villages 2 years ago, we owned one variable annuity that was managed by our financial planner. It wasn't until we went to one of the financial programs in TV that we realized the fees associated with this annuity; i.e., 4-5% per year. This was a variable annuity and required the financial planner to "move" funds within the annuity to maintain value. With fees of 4-5%, even if the fund made 8%, it really was only growing at 3%. We transferred the funds to a fixed annuity for a nominal one time fee with no annual fees, received a one-time bonus of 8%, and feel much more comfortable in our choice.