What is the difference between an annuity and a regular mutual fund to the extent of retirement?
A friend of mine says that my investment "Adviser" will make a KILLING in an annuity if you open as well, I have to be in this annuity for something like 80-10 years ago (decrease rates or something?) occurs. I will be around $ 260K transfer from another brokerage house to my "consultant." This same friend thinks you need to keep funds investment … when comparing the two investment vehicles, their difference in overall performance over the past 12-15 years is not much difference (but had not tax benefits or something with one or the other). Any help?
There is no simple answer. . . that's why you're having trouble deciding. Remember that the type selling an annuity is a charge for it. . . perhaps as much as 12.5% of its assets. The fee is hidden in all shapes and NOT fully disclosed, no matter what he says. Stick with mutual funds. Your friend is right! How I can know? . . . I bought an annuity from NY Life, a reputable company, and just found out of discharge fees on submission. . . but not in time to retrieve my money. I have yet the annuity, but have never put another nickel in it. Worse, the seller was a friend and really did not know how to calculate fees. Agrees that are much more pronounced than expected. . . reached only one quarter the fee itself, but even that was almost impossible to calculate.
Variable annuity marketing
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