[llaran]

Originally Posted by Caymus

Too bad they can't be honest. There are probably times when annuities could be a good pick for certain people.

is it a good idea to cancel an annuity?

[Stu from NYC]

Originally Posted by llaran

is it a good idea to cancel an annuity?

Read your contract first or have someone like a lawyer do so.

[Topspinmo]

Originally Posted by Two Bills

"You tell'em Lady!!"

Proved women has strong opinions

[Topspinmo]

I fine if you got money somebody going to try to steal it? Financial institutions is high in my list.

[Caymus]

Originally Posted by Topspinmo

I fine if you got money somebody going to try to steal it? Financial institutions is high in my list.

Speaking of stealing. I notice that Jim Cramer of CNBC is selling a 3 month "Club" subscription for $79.99.

[kkingston57]

Originally Posted by golfing eagles

Thank you, Nostradamus. Or maybe America will wake up and get rid of the tax and spend idiots.

Not going to happen. With gerry mandering all we have is far left and far right politicians.

[kkingston57]

Originally Posted by Stu from NYC

If you have a ways to go to reach retirement age, I believe a better way is a basket of good no load mutual funds. Compare history with what an annuity is offering.

An old saying is annuities are never bought they are sold.

Also what does this have to do with RMD?

To answer your question, Nothing. RMD is a requirement to pay deferred taxes. Another financial industry created by our lawmakers.

[manaboutown]

Originally Posted by Caymus

Speaking of stealing. I notice that Jim Cramer of CNBC is selling a 3 month "Club" subscription for $79.99.

The author discusses him in the book. She wrote that as soon as Cramer recommends a stock it briefly rises, say over a day or two. Then it sinks back to where it was or even lower. She suggested it may be a good tactic to short his recommendations during their brief rise. lol.

[Stu from NYC]

Originally Posted by kkingston57

To answer your question, Nothing. RMD is a requirement to pay deferred taxes. Another financial industry created by our lawmakers.

RMD's to people like me who never worked for a company with a pension is awesome.

[Boomer]

I am loving this book.

Film at 11.

Boomer

[retiredguy123]

Originally Posted by Caymus

The vast majority is in ETF's and index funds, the balance is in treasuries. From what I read the payout from a qualified annuity also satisfies the RMD for that account.

I have about 8 years to research.

Not sure what you mean by "satisfying an RMD". When you take money from a tax deferred account for the RMD, it is taxable income. As far as I know, the only way to avoid paying income tax is to transfer the money directly from the tax deferred account to a charity.

[retiredguy123]

Originally Posted by Stu from NYC

Read your contract first or have someone like a lawyer do so.

Or a team of lawyers.

[retiredguy123]

The book is available as a Kindle book for $12.99.

[Toymeister]

I give the book a score of three out of ten.

It is dated by eleven years. It covers some of the financial gurus long gone. One was popular in the 1930s and died thirty years ago. It fails to cover the bad advice of some gurus. For example she briefly covers Dave Ramsey but doesn't mention the recommendations that he gives to high load but funds by agents which pay him a referral fee or that 12% annual return touted by Ramsey isn't realistic.

There are better books.

[Caymus]

I recently finished the audiobook version (free to me). It does contain useful information which is somewhat dated after 10 plus years. I was somewhat amused that she was against almost everybody (even Elmo from Sesame Street������). I may have missed the parts where she offered positive actions. That may be due to me using the audio version.