Has AnyonPurchased This Annuity?

Has AnyonPurchased This Annuity?


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Old 11-10-2018, 07:45 AM
Garylp3 Garylp3 is offline
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Location: We live in Ohio and just purchased at Fenney. Planning on going back and forth for a few years .
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Generally, if you can be discipline and trust yourself you don't need to pay for annuity, take your 4% or whatever out your self each year. If you still have a need to purchase annuity investigate Vanguard. They don't have the huge expenses others do.

Old 11-11-2018, 09:36 AM
collie1228 collie1228 is offline
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Personally, I would never buy an annuity of any kind, but that's just me. Paying fees to a salesman goes against my grain (and I don't pay mutual fund loads either). But, if you have lost money in the stock market in the past and holding stocks keeps you awake at night, you probably should consider a safe annuity, but if you can, do it with assistance from a fiduciary, not a sales person, and look carefully at costs and commissions.
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Old 11-11-2018, 09:46 AM
kstew43 kstew43 is offline
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Originally Posted by schrdr View Post
I hear a lot of talk about "Don't Buy Annuities". I agree that not all annuities are the same and everyone is different. But my experience is just the opposite. In 2005 I bought 4 large annuities. For 3 years they grew as did the market. When the market crashed my friends with stocks, Mutual Funds lost 50% of their net worth. My annuities switched automatically from a market based to a fixed rate. In the ensuing years as everyone lost a ton of money, my annuities rose at a steady 7% in the worst economy since The Great Depression. I never lost a penny and made a lot of money with never a worry. Annuities are the reason I am here now living the good life.
I second that, not the 7%, we never got that high, but we lost nothing when the markets crashed.
Old 11-11-2018, 10:15 AM
petsetc petsetc is offline
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Please go to http://paulmerriman.com/ and read his FREE eBooks. I have a different Athene Annuity that I purchased in 2004/5 before I educated myself. The good news it was a small annuity, the bad news, it was a BAD decision on my part. I am in the process of dumping it, little at a time so as to avoid the harsh early withdrawal penalties.

As already stated, the commissions typically run 10% of the initial investment which makes me question it right up front.

I do believe the same money, placed in a few indexed mutual funds, will yield more return PLUS give you access to the principal if you want/need it.

Your choices could be as simple as:

Vanguard Total Stock Market Index Fund, holding approximately 3600 stocks,
Vanguard Total International Stock Index Fund, holding approximately 6200 stocks,
Vanguard Total Bond Market Index Fund, holding approximately 8400 bonds,
Vanguard Total International Bond Index Fund

You determine the mix based on your risk tolerance.

Hope that helps a little.
Old 11-11-2018, 12:36 PM
retiredguy123 retiredguy123 is online now
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In the past, I have had several friends ask me about a specific annuity that they were considering based on the advice of a financial advisor. In each case, the first thing I did was to call the annuity company and ask them to send me a copy of the annuity contract so I could read it and advise my friend. In every case (four different companies), they have refused to provide the contract. The Ty Young guy actually got mad at me and said "this call is over" and hung up. The lady I spoke with at Athene was polite, but said to me that the contract is over 100 pages and you have to complete a signed application, pay for the annuity, and then you will receive the contract. After that, you have 20 days to cancel the annuity and apply for a refund of your money. I cannot recommend that anyone enter into a contractual relationship on that basis.

Last edited by retiredguy123; 11-11-2018 at 12:45 PM.
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annuity, athene, indexed, fixed, single

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