Annuities as a safe retirement vehicle? (55, family, best, opinion)

[katjonjj]

What is the thought about using annuities for funding retirement rather than a stock/bonds portfolio?

Annuities, to me, seem safe rather than risky. In retirement should we be more concerned with keeping what we've earned or in risking loss by wanting to increase what we've earned.

[mathjak107]

Depends what type? univeral variable nooooooooo not a good deal, to high in fees , charges and commissions..

i am a fan of immeadiate annuities and think those can playout very well for alot of people who are needing more to live on guaranteed then they can generate guaranteed on their own . key word being "guaranteed"

[thrillobyte]

My philosophy has always been if an insurance company is pushing it, then it can't possibly be advantageous for you, only for the ins. co. At best, it can be adequate.

[mathjak107]

for what the immeadiate annuity does it can be worth it depending on circumstances . and those circumstances have nothing to do with fees .. these arent your typical ripoff products they offer. insurance companies do offer products that are decent . the problem is you need to research them on your own as they arent promoted or sold by the salesman because they lack those nice commissions their other products do...

some of these products are immeadiate annuities as well as gic contracts which are basically cd's you can buy from insurance companies that offer higher rates , more options as far as locking rates and tax deferement on the interest as well as payout options.

all expenses are built right into the cd rate....if you like the rate then thats your deal just like a bank does it....

one of the reasons individuals do poorly with their money is alot of times instead of doing their own home work they listen to bits and pieces of things they hear or read from other ill-informed people, and they draw a conclusion to things that is absoluetly wrong.

i bet most folks have no idea of the various types of annuities that are out there, in fact i bet they dont even know how they work but yet they will run with the word annuity and without a clue as to what type or how it works they will just have an opinion that oh thats bad.... everyone needs to stop believing their own bull and do some research for themselves before having an opinion about things. at least then you can make an informed decision about something

and nooooooo im not an anuity salesman.... i just keep an open mind to things and evaluate things myself as to why they are good or bad...

[thrillobyte]

and nooooooo im not an anuity salesman.... i just keep an open mind to things and evaluate things myself as to why they are good or bad...

That is to your credit, mathjak!

[mathjak107]

And thank you!

[thrillobyte]

And thank YOU for the rep point! And here's one for you!

[Missourimomo]

Originally Posted by katjonjj

What is the thought about using annuities for funding retirement rather than a stock/bonds portfolio?

Annuities, to me, seem safe rather than risky. In retirement should we be more concerned with keeping what we've earned or in risking loss by wanting to increase what we've earned.

Check this thread out when you get a chance..
Ever wonder why our treasuries still sell at almost no interest? ( 1 2)

[katjonjj]

Originally Posted by thrillobyte

My philosophy has always been if an insurance company is pushing it, then it can't possibly be advantageous for you, only for the ins. co. At best, it can be adequate.

Fixed and Indexed annuities have no fees and are guaranteed to earn a return such as a CD but without the tax burden or the market risk.

I would never get into variable annuities.

If you trust your insurance company to insure your house (which you worked so hard for) and your car, and even your family (health insurance) why wouldn't you trust them with your finances?

[katjonjj]

Originally Posted by Missourimomo

Check this thread out when you get a chance..
Ever wonder why our treasuries still sell at almost no interest? ( 1 2)

Ok thanks!