Talk of The Villages Florida
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-   Investment Talk (https://www.talkofthevillages.com/forums/investment-talk-158/)
-   -   How High Will It Go? (https://www.talkofthevillages.com/forums/investment-talk-158/how-high-will-go-339099/)

Plinker 02-18-2023 12:49 PM
Quote:
Originally Posted by melpetezrinski (Post 2188645)
Obviously, the answer is NOT simple since you make assumptions and accusations that are incorrect. Also, if a tax deferred product gives you the best ROI for your time horizon, risk profile and tax implications, who cares if it's in an IRA.
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.

Caymus 02-18-2023 12:50 PM
Quote:
Originally Posted by Captainpd (Post 2188793)
And you want investing advice from a community board full of +60 people?? Really. JMHO but there are people that you pay to manage your money.
I'm curious. What is wrong with +60 people?

melpetezrinski 02-18-2023 02:48 PM
Quote:
Originally Posted by Plinker (Post 2188871)
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.
A 1% commission can add up very fast. There is no fee AND no commission for the MYGA I purchased. I won't go into details about how I know that's fact but it's one of the very few annuities offered by Equitable (AXA Equitable) that is structured in that manner. However, the other 99% of annuities they offer can carry high fees and 1-2% commission. Annuities are certainly not for everyone and the "devil is in the details".

jimjamuser 02-18-2023 03:02 PM
Quote:
Originally Posted by Caymus (Post 2188872)
I'm curious. What is wrong with +60 people?
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.

jimjamuser 02-18-2023 03:06 PM
Quote:
Originally Posted by MandoMan (Post 2188658)
According to a couple friends who are big boys in banking and mutual funds, interest rates will be lower by year’s end than now, the inflation rate is going to drop a lot, and if there is a recession, it will be short and small. Paul Krugman is saying the same, and some analysts in the WSJ, and I hear also some major European banks. Maybe they are all just trying to raise our spirits, but it was enough for me to put everything back in stock-based mutual funds.
Paul Krugman is GOLDEN!

Stu from NYC 02-18-2023 03:29 PM
Quote:
Originally Posted by retiredguy123 (Post 2188459)
The answer is simple. The salesperson delivered a great, but dishonest, sales pitch and made a huge commission.
Annuities are a great financial investment, for the salesman. Reminds me of cousin brucies sales pitches.

rsibole 02-18-2023 05:10 PM
Quote:
Originally Posted by manaboutown (Post 2188160)
The Fed rate, that is. Many of us remember the 1970s and 1980s and what happened back then, high inflation, very high interest rates.

How can a portfolio be positioned in preparation?

Any ideas or suggestions?

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.

Caymus 02-18-2023 05:31 PM
Quote:
Originally Posted by rsibole (Post 2188967)
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.
You can also overpay federal taxes by $5,000 and get them as payment.

Plinker 02-18-2023 09:39 PM
Quote:
Originally Posted by melpetezrinski (Post 2188914)
A 1% commission can add up very fast. There is no fee AND no commission for the MYGA I purchased. I won't go into details about how I know that's fact but it's one of the very few annuities offered by Equitable (AXA Equitable) that is structured in that manner. However, the other 99% of annuities they offer can carry high fees and 1-2% commission. Annuities are certainly not for everyone and the "devil is in the details".
I have several MYGA’s, including one from Equitable.
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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