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Old 10-01-2016, 01:36 PM
 
Location: Saint John, IN
11,043 posts, read 4,001,104 times
Reputation: 13559

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You're right, this is so funny. I see that the OP has another post out there in regards to the same topic. Yet he seems to get annoyed anytime someone makes a suggestion for him to consider. Waste of my time trying to help someone.
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Old 10-01-2016, 01:37 PM
 
4,649 posts, read 6,489,663 times
Reputation: 5395
For others go to you tube and search for Tom Hegna to get some insight on the use of an Annuity or just the importance of guaranteed income during retirement. No matter the product it isn't free and as far a insurance products go insurance companies do offer some guarantees.

Know your goal and just pick the tool that fits.
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Old 10-01-2016, 03:36 PM
 
Location: Somewhere in deep in Maine
3,665 posts, read 2,815,751 times
Reputation: 4441
Annuities - Ultimate Guide to Retirement - Money Magazine on CNNMoney

http://www.newsweek.com/one-faulty-investment-126631

http://annuityed.org/wp-content/uplo...d-Article2.pdf

http://boards.fool.com/tmf-hidden-co...-20902854.aspx

Last edited by slyfox2; 10-01-2016 at 03:45 PM..
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Old 10-02-2016, 07:17 AM
 
30,156 posts, read 47,386,444 times
Reputation: 16099
Wondered if the bank happened to be Wells Fargo in light of recent news castigating the bank.
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Old 10-02-2016, 09:05 AM
 
Location: Somewhere in deep in Maine
3,665 posts, read 2,815,751 times
Reputation: 4441
Quote:
Originally Posted by loves2read View Post
Wondered if the bank happened to be Wells Fargo in light of recent news castigating the bank.
Nope. There are no Wells Fargo branches in New England(RI, Mass, Vermont, NH, or Maine) or in 5 other states.
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Old 10-05-2016, 05:40 AM
 
8,204 posts, read 11,927,697 times
Reputation: 18020
Quote:
Originally Posted by slyfox2 View Post
I've already explained what we did, why we wanted to do it, and what the post here was for.

I got the information I needed, both here and on the internet.

I agree that closing the thread would be useful since I really don't need any more advice from more people who especially haven't followed the whole thread or its process.... [b]
Quote:
Originally Posted by MadManofBethesda View Post
There's a simpler solution that doesn't require moderator intervention: Simply quit clicking on it and reading any further responses. That way you won't see any unwanted advice.

Problem solved.
Quote:
Originally Posted by slyfox2 View Post
I didn't say it was unwanted, I said it was un-needed. They are not the same in my mind. I still want it because of the fun factor.

I could do what you say. But its just plain too much fun to read all the posts from people.

I love reading all the posts of people who sell annuities and want everyone to buy them, and those from people who have them or had them who don't think they are wonderful.
If you're having "just plain too much fun" reading all of these posts, then why would you agree with the suggestion that the moderator should close the thread? Those two statements taken together make absolutely no sense whatsoever.

But then again, you getting yourself involved in this quagmire of problems all because you didn't want to have an occasional phone conversation with a long-distance investment house doesn't make much sense either.
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Old 10-05-2016, 11:34 AM
 
Location: Somewhere in deep in Maine
3,665 posts, read 2,815,751 times
Reputation: 4441
Quote:
Originally Posted by MadManofBethesda View Post

But then again, you getting yourself involved in this quagmire of problems all because you didn't want to have an occasional phone conversation with a long-distance investment house doesn't make much sense either.
What quagmire are you talking about?

My wife has decided to simply move the IRA custodianship to a local bank, and then to get it out of the mutual finds and into CD's. No conversations needed; bank will handle the whole transaction.

The quagmire we avoided was turning it into a variable annuity: huge surrender fees up to 6-7 years out, no way to liquidate, a 3 % fee on an average yield of 3.61%. Now that would have been a real quagmire.

Now instead of calling the brokerage house, making sure that they got the wire transfer number right, making sure they actually wired it to the right place, checking on it, we can simply have it transferred from one account in the bank to another.

And yes yes I have had problems with transfers go to the wrong account, with the companies not knowing how to transfer, with having to explain the story to several people while I get shifted around from place to place. The story of how I got the La Swisse Annuity in Zurich to finally get my money back into my bank account in the states was a comedy of errors.
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Old 10-05-2016, 11:39 AM
 
2,695 posts, read 1,548,358 times
Reputation: 2603
wire transfers? How old school, expensive and error prone.

Can't you do transfers through the Automated Clearing House (ACH)? That's how my transfers are done. No hassle, no extra costs.
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Old 10-06-2016, 07:35 AM
 
Location: Somewhere in deep in Maine
3,665 posts, read 2,815,751 times
Reputation: 4441
Quote:
Originally Posted by bigbear99 View Post
wire transfers? How old school, expensive and error prone.

Can't you do transfers through the Automated Clearing House (ACH)? That's how my transfers are done. No hassle, no extra costs.
News to me. My bank has never mentioned that. You must have grown up in the area of the ubiquitousness of computers. For those of us for whom computers didn't get into everything and the internet wasn't everywhere until we were in our 50's, we tend to be lots more distrustful of new technology.
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