Posted on 12/16/2021 6:26:05 PM PST by PistolPaknMama
Are there any financial advisers on here with a good knowledge of annuities. Got a situation with lump sum offer and have no idea what to do. Yes, I've read everything I can read, and yes, I've exhausted other resources before posting here, plus my original adviser died. This is a last resort and I'd rather give my business to a FReeper anyway. Please private reply if we can talk/zoom/email. You will be vetted! Sorry for the vanity!
No Crap. This market is poised to drop 50%.
To your answer is NO.
Go to a young tax man.
Don't take an annuity, period. The person who makes the most money on it isn't you, it's the person who sold it to you/sold you on it.
You want to see a Professional Financial Advisor who acts as a Fiduciary, and is fee based.
By seeing a Professional Financial Advisor who acts as a Fiduciary, they will talk to you about your total investments, goals, etc.. and help you determine what to do. You pay them a fee for that service, and they will not sell you anything. You're paying for their professional advice based on your situation.
Market can NOT drop 50% so long as gov’t is spending money like a drunken sailor.
That is a reasonable approach to their utilization.
I will say this.
Name one business without a hiring sign.
You are about to see shit hit the fan.
You are NOT correct. I bought annuities through Vanguard with ZERO load charge, and ZERO withdrawal charge. My funds are working 100% value with 100% tax deferred in variable annuities, invested in stock index funds. And there is NO annual RMD unlike IRA’s after age 70-1/2. My initial investment has tripled and have paid no capital gains tax, unless I cash out some or all.
Those signs will start disappearing as the covid handouts taper out. Especially if GOP gains seat in 2022.
I am glad you are doing well but be sure to keep it in “your lane”.
It is also called “wheel house” if that helps.....
I am all out of stock index funds, which I had loaded up in March-April 2020. Patiently waiting for next crash. But it won’t happen until FED raises interest rates above 3% for 10 year bonds. Annuities are just like IRA’s for trading stock funds. No capital gains tax due!
It won’t matter.
I’ll just get rid of all of it.
Maybe a few bucks here and there.
I like you.
I was raised in a family of many and wore hand me downs during my childhood.
My Father passed when I was 13 and that really sucked.
I will not say where I am now but really bad situations can result in really great outcomes.
Please help your local community, it is who we are. :^)
In 2009, with extraordinary luck, I bought an annuity at the very bottom of the stock market. That same week, the market began to come back and I made 140% in ten years.
However, once I discovered that I could lend money to real estate investors and make 10% per annum, I liquidated the annuity over time. Any cash I have is now loaned to fix n flippers, and secured in lien position on their rehab properties. If they fail, I own the property.
If you’d like to learn more, please message me here and I’ll show you how. I’ll never go back to stocks!
I'm exactly correct. You won't find a fiduciary worth their salt that would ever recommend an annuity.
My funds are working 100% value with 100% tax deferred in variable annuities, invested in stock index funds.
If you think you're avoiding a market crash/correction this way, you couldn't be more wrong.
You are a perfect example of someone who really needs to see a Professional Investment Advisor that's a Fiduciary. Not a single one that you could find, would ever tell you to load up 100% into a variable annuity. Even Vanguard would never tell you to do that.
From Vanguard's website: "That's not to say an annuity can't be a viable retirement income option. But given participants' understandable wariness, an annuity shouldn't be the primary—and certainly never the only—option they are given, writes Colleen Jaconetti, a senior investment strategist in Vanguard Investment Solutions, in her blog post Retirees and the Curb Appeal of Annuities."
I am sitting on triple amount of money than what I put in to the annuities. I can cash out without any commissions. In the meanwhile I can trade index funds without capital gains. If you don’t understand this, good luck to you.
What I was trying to say is there was no load charge.
100% of my capital began working. Avoid paying sales commission and load charges.
That article misses the main point. Which is than variable annuities give us capital gains tax deferred trading. I was already maxxed out on IRA contributions. There was no other place for my additional funds to trade tax deferred trading.
LOL!
Too late! I've been in this one for 20-ish years. They've offered a lump sum to buy me out or leave it where it is. Just don't want to take a hit/loss and pretty darn clueless.
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