Annuity - from Variable to Fixed
 

We both have owned Variable Annuities for over 10 years. Have been receiving $$$ from them monthly which is...nice. But, knew that fees were very high.

We met with Amerity Financial, Ross Beattie this week. He is located near the Brownwood hotel on Rt 44. 352 633 3777. Our experience with Ross was exceptional. He reviewed our finances, and the Variable Annuities we had in detail with us. Called each of the Annuity companies to obtain all info re status, past fees, transfer info, etc. Very professional and very knowledgeable.

In the end we transferred funds OUT of these Variable Annuities into Fixed Indexed. They have FAR lower fees, more income, better rates of return. All around a better financial move. We are extremely pleased.

Ross was a wonderful expert in this field, zero pressure, and provided unbiased information of possible moves. We highly recommend him for anyone with a Variable Annuity, or considering Annuities in general. Annuities may have a bad reputation, BUT if invested properly in the best instrument they can be a great source of income with solid security.

Oh my!

Well if the OP is happy who are to burst his bubble.

Very Nice Restraint Boys.

:mornincoffee:

Did he take you to dinner first?:laugh::laugh:

hmmm, monthly income taxed at income rate levels versus lower dividend rates?

is your taxable income > 89K?
if your taxable income is not over 89K, never mind. .

monthly income taxed at 22% over 89K
versus ETF dividends taxed at 15% over 89K?

JUST CURIOUS, with high fees and higher taxable income bracket than monthly ETF bond and stock distributions, what was the rational from your financial planner for annuities?

former finance guy

sorry, you posted while I was typing.

always interested in financial planners rational with tax implications, especially after age 71+ when IRA RMDs start to get added into taxable income levels. . which people don't always take into account when in their 60s

Ok you guys. Please share with us all what the issues are here, so we could all learn. Consider it a teaching moment.

Or, you could search the last 23 annuity threads and save a lot of keystrokes.

:highfive:

Anyone who "invests" in annuities is simply handing a lot of money over to the salesperson. These "investment" vehicles are some of the worst places to put money. They are highly complex instruments that even the salesperson does not understand. Imagine the regular man on the street. They stand no chance with these very expensive, impossible to unload "investments".

Annuities are sold and never purchased. Sales rep does very well selling them.

Totally a false narrative.

Variable annuities are much better IMO. Why cap your potential return with a fixed annuity? Your new financial advisor made a nice commission.

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great questions!