Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#61
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#62
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#63
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Put everything into Annuities ??? hhhh
omg no !!! Run!!!
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#64
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I regularly laugh at financial advice on what you need to retire. All you need to know is how long you will live, rate of inflation till you die, rate of return on your investments and the number can be calculated. Oh and throw in what will kill you A car crash is far less expensive then say cancer or Alzheimers or????? Oh and the tax rate till you pass. All are unknown. I think the option has been lessened. My mom left my sister and me her IRA as an inherited IRA. She only paid tax on what she was forced to withdraw. It is not much money. I do face a required minimum distribution. At no charge my brokerage, I think they all do sends us a letter as to how much we need to withdraw. It is not much money. My parents didn't have much. It is a gift that keeps on giving long after you pass. |
#65
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#66
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Thank you
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#67
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You didn't say who your plan was with? Vanguard, Fidelity, Charles Schwab, etc.
Vanguard has a very high rating and low cost. Depending on your plan and the company you worked for you may want to or your company may require you to move your 401K / IRA to another company. First just remember when you make a move to another company it could take several days or a week to complete the move. During that period of time your account will be in limbo not effected by the market ups & downs. I recommend you stay with Big company like Vanguard, Charles Schwab, Fidelity etc. I personally don't trust the small independent companies. Remember Bernie Madoff. You want a financial advisor who you can talk with and someone who will return your calls. There are so many ways to invest your 401K. There are companies who will use a Robo Advisor for your account investments based on your individual preferences. I would interview several companies. When I retired I interviewed Fidelity, TD Ameritrade, Vanguard, and Charles Schwab. Remember its your money, be smart, not all advisors look out for your best interest. You want to use a company who has Fiduciary Certified Financial Advisors who by being Certified must keep your best interest in mind. |
#68
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DO NOT INVEST IN ANNUITIES!!!! Like someone said the Banker makes commission on selling you a annuity. A Banker closed out my 91 year old father's CD when it came due and sold him a annuity???? I mean really at 91 you don't need a Annuity.
ANNUITIES have small print that nobody reads until you need your money. Annuities are for the LAZY person who doesn't want to take the time out to learn simple investing. Investing is not hard just put a little effort into it. Hey it's your money, don't let someone else have control of your money!!!! |
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