Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
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Longevity Insurance
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#2
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#3
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There is an old saying about annuities, they are never bought they are sold.
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#4
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First my disclaimer - I think annuities are a bad place to put money - they are NOT an investment.
With that said, if you want to know a lot about them, I recommend you listen to the podcasts by Stan The Annuity Man called Fun with Annuities. And should you want investment help, I recommend you take time to read Paul Merriman’s 3 FREE ebooks. 1. First-Time Investor 2. 101 Investment Decisions 3. Get Smart or Get Screwed (read this first!) Found at paulmerriman.com Also on his site are recommended portfolios for using Vanguard, Fidelity, T.Rowe Price or Schwab for DYI'ers. Much good info, ignore the puffery and sales pitches. |
#5
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If an annuity is paying the annual earned interest one is expecting, let's say 6.5%....and it preserves their principal....and the client is happy.....why are they labeled bad.....by some folks? (separate issue ) |
#6
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But, for me, there are two things that should tell you that annuities are bad. First, the salesperson makes a huge commission of about 10 percent upfront for selling an annuity. And, second, the salesperson will not allow you to read the annuity contract before you sign it. |
#7
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#8
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As for good or bad, that is in the eyes of the client. What they are is a contract with the issuer, usually an insurance company, to but a stream of income for a period, might be a fixed term or might be for life of one or more people, and the better ones may offer a residual value if all the benefits are not paid out. Point is, NOT an investment, a contract for a defined cash flow stream. (at least thats my non-legal understanding) |
#9
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#10
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Do you have the assets to pay me if this does happen?
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#11
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My brother is a financial guy. When his sister in law and husband with dementia want into assisted living he took over their finances. She had an annuity paying her 1%!!!. Geez Louise.
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"No one is more hated than he who speaks the truth." Plato “To argue with a person who has renounced the use of reason is like administering medicine to the dead.” Thomas Paine |
#12
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Nobody wakes up one day and says lets go buy an annuity. |
#13
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Yes and she was a teacher. The annuity was in her IRA. Awful!
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"No one is more hated than he who speaks the truth." Plato “To argue with a person who has renounced the use of reason is like administering medicine to the dead.” Thomas Paine |
#14
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The guy is 89, diabetic and senile. He was a PhD physicist. Worked for U of Cal. Has PERS. She has teachers's retirement. They have lived high and each weighs close to 300 lbs. They needed to call EMTs when they fell. Huge Colorado house , "cabin" on 6 acres, $900K, Tucson house for winters but NO savings. Huge motorhome, PU Truck with camper, 1966 Scout, 1964 Pontiac, 1,200 lbs. in coins. But not sufficient cash to pay their income taxes. My brother has had his hands full.
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"No one is more hated than he who speaks the truth." Plato “To argue with a person who has renounced the use of reason is like administering medicine to the dead.” Thomas Paine |
#15
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The guy who sold it to her was a thief.
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Closed Thread |
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