Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#31
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Agree. The commission on a MYGA is about 1%. Certainly not “huge”. I have yet to see a MYGA that does not have a higher rate than a CD, often substantially higher. In non-qualified accounts, the interest is deferred until the end of the contract and can be rolled over to a new MYGA, further postponing taxes on the interest. In qualified accounts, it doesn’t matter. I have purchased a number of MYGA products over the years (qualified and non-qualified assets) and would never consider a CD. My non-qualified MYGA allows a 10% withdrawal yearly with no surrender fees.
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#32
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I'm curious. What is wrong with +60 people?
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#33
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#34
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True and a lot of stock brokers make their money by "churning" you. No one on the forum here is doing that. And 60-plus people have great experience and many are still sharp.......not me, but others.
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#35
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#36
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Annuities are a great financial investment, for the salesman. Reminds me of cousin brucies sales pitches.
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#37
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I-bonds currently pay 6.89%, fully backed by full faith and treasury of US Government. Drawback is that you can only invest $10,000 per person however you can also “gift” I-bonds to another individual. |
#38
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You can also overpay federal taxes by $5,000 and get them as payment.
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#39
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The agent I use tried to steer me to indexed annuities which have commissions in the 6-10% range. I shut that down real quick. Many agents will not even bring a MYGA up as a consideration in a conversation about annuities. The reason is that the commissions are so low. I realize these can be purchased online but are they not paid to write the contracts? The last one I purchased had a page in the contract stating he would receive a 0.75% commission on the sale. Nobody works for free. Commissions are already accounted for in the stated rate. Could you expand a bit on the no commission statement? Thank you! |
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