Posted on 10/14/2009 3:37:42 PM PDT by unique
Be careful, very careful of this advice.
And the rabbit wouldn’t have been caught if he hadn’t stopped to pee.
Woulda, coulda, soulda. The market is at one of its biggest divergence’s between fundamentals and technicals ever. Google and read David Rosenberg of Gluskin Sheef, free registration required, to keep up.
It’s one of the toughest markets for the unemployed since the ‘30s. There are 5 unemployed for every opening. My brother-in-law was out for about 5 months and recently got a job with the state. He’s one of the lucky ones.
Tax deferral is not the only advantage of annuities. Read my above comments to see that I’m not a fan of annuities.
Insurance companies have take a big hit in the finacial collapse. AIG also has LOTS of annuities. I have no idea how the AIG credit default swaps might or might not impact the annuities but why take a chance?
Hope this works out for you. State Farm is not known as a market leader in annuities.
Wait til Monday and you may be too late.
Actually they were offering very competitive rates. As I mentioned, I was originally looking for CDs, but State Farm had much better rates on their annuities. I also financed a truck with State Farm a couple of years ago. No one around here could compete with their rates on auto loans either. State farm and State Farm Bank have come a long ways in recent years. Check them out.
Some of the posters here are dead on right about agents setting up annuities because of the commissions they get paid. Mine talked me out of moving the two annuities to fixed earlier this week. I'm still mulling it over but seeing the stock market go over 10,000.00 made me smile. The time to move is coming soon.........I hope.
Getting back to your original starting place is one of the major psychological impediments listed by the gurus to successful investing.
The difference between the surge in the markets and the disaster in the real economy could cause the markets to retest its lows. The reversal could begin any time, they say.
Should this happen, it would be a shame if you rode the market all the way back down because you didn’t make it all the way get back up to your original place. This might be a good time to rethink your strategy.
It’s not easy getting off the elevator while it’s still going up. If this is money you can’t afford to lose then it shouldn’t be at risk.
Good luck.
Thank you. I’m still pondering (dithering) but I’m fairly certain I’m going to piss off my agent when I make the demand. That’s okay however because it’s not his money.
If your agent is not securities licensed then he/she can’t offer you any alternatives to a fixed annuity or an indexed based annuity. He/she then becomes a one trick pony and only offers what is in their limited range of alternative.
What you need is someone who offers prinicpal protection and growth in up and down markets.
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