Page 177 - Ready Set Retire

Ready. Set. Retire!

said you can lose your shirt, but because there is not a printed
schedule of the market’s volatility charges and because you
think everybody else is doing it, it must be okay?

I have had people come into my office and show me
statements with as much as 50% losses; but because it was not
in print in a penalty schedule before they bought, they bought
anyway. I have never seen an annuity with a 50% surrender
charge. Surrender charges are in your control and don’t come
into play unless you make that choice. Further, the market’s
volatility charges happen to you involuntarily. One more
thing…there is such a thing as a Fixed Indexed Annuity that
delivers 100% liquidity of the initial premium any time you
want it, with no surrender charges!

7. “MY BROKER DOESN’T LIKE INDEX ANNUITIES.”

No kidding. Over the last 10 years, more than $2.3 trillion of
annuity products have been sold in the United States. The
overwhelming majority were in deferred annuity products with
the primary intention of tax-deferred growth. Guess where that
money came from. In addition, the amount of money the
industry can charge in fees on has shrunk dramatically in the
past few years, due to the market meltdown. Not only doesn’t
your broker like them, the whole investment community
doesn’t like them.

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