Annuities: A Broker's Best Friend Part I
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that tax point was really stupid. With that theory in mind noone should put money into an ira. An ira is a tax deffered investment just like an annuity.
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You seem to go around bashing annuities. I put $400,000 into an annuity 10 years ago at the advice of my advisor. The market has been flat, but with the 7% step-up each year I have doubled my income base to $800,000. Now, my wife and I get $48,000/year for life. If I used your advise I would be drawing $48,000 from 400,000 and would run out of money by my early 70s. You are very negative on a product that has brought my wife and I great piece of mind.
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Carl,
Your profile says you are 42 years old, yet you seem to imply you are retired and collecting on an annuity. Did you retire early or input an incorrect age? Just thought you would want to clarify as one might jump to the conclusion that you sell annuities.
kkinder94 1 year ago