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Started By
Message
re: Fixed index annuities
Posted on 6/6/19 at 11:04 am to Janky
Posted on 6/6/19 at 11:04 am to Janky
This is the strangest thing to me.
I had a friend whose parents were considering a new York life annuity. I asked to review it.
It was hand written notes on a manilla envelope.
I told them to run. If they want the product, find a different agent who would do a proper proposal.
I had a friend whose parents were considering a new York life annuity. I asked to review it.
It was hand written notes on a manilla envelope.
I told them to run. If they want the product, find a different agent who would do a proper proposal.
1
Posted on 6/6/19 at 11:24 am to meansonny
Aint that the truth. Wrong board but, "you have to pass the bill to find out what's in it" analogy. Maybe they used to work in congress??
Posted on 6/6/19 at 10:40 pm to done dancing
Glad we can help. Don't be shy about bringing us the advisor's suggestion for you. We can tell you if it's a decent offering.
Hell, i don't give a damn. I'll tell you the best option in that asset class, if you consider it for any $$$
Hell, i don't give a damn. I'll tell you the best option in that asset class, if you consider it for any $$$
Posted on 6/7/19 at 7:52 am to done dancing
I'm licensed and I wouldn't sell you a Fixed Index Annuity. I don't like them. If you are calling your investments a portfolio then you likely have plenty to invest. I would stick to a muni ETF and earn tax-exempt interest dividends. NUV, NEA, NEV, NQP and NTX are the ones I can think of off the top of my head. they are in the 4.5% range with NTX being 3.8%.
This post was edited on 6/7/19 at 8:01 am
Posted on 6/7/19 at 9:15 am to yatesdog38
That is certainly an option as well. However, you are now introducing interest rate risk when rates inevitably rise.
Posted on 6/7/19 at 12:18 pm to Janky
There is going to be interest rate risk baked into a fixed index annuity as well as reduced liquidity. The amount of interest rate risk of the etfs is going to be based on duration. the returns have been pretty steady on the ones i mentioned over the last 10 years. It just depends on what type of risk you prefer to make a solid recommendation. I don't like Index annuities because of their complexities, high fees, and lack of liquidity. There is no wrong answer, but it is a little lower on the totem pole as for recommendations for me. You wanna see the returns on NEV here are the dividends over 10 years and you can check the prices on that day to calculate a yield. The stock market has been up the last 2 weeks because of the Fed's absurdly dovish stance.
LINK
LINK
Posted on 6/7/19 at 2:10 pm to yatesdog38
I started the conversation and studied heavily not to go down the proverbial rabbit hole. Glad I did obviously. I also learned that I share many good traits with people who responded with respect to investing. Thanks again all for the input. I'm gonna put this particular idea to bed for now.
Posted on 6/7/19 at 3:44 pm to done dancing
I know you are putting this to bed.
I just came across this post and thought of you/ this thread.
I’ll just leave it here for the next person who searches the board for FIA.
Indexed annuity illustrations are hurting consumers
I just came across this post and thought of you/ this thread.
I’ll just leave it here for the next person who searches the board for FIA.
Indexed annuity illustrations are hurting consumers
Posted on 6/7/19 at 6:20 pm to done dancing
Can you tell us more about the meeting? And how did you run across the person you met with? Was this the first meeting with them?
Personally I'm not as turned off by the whiteboard stuff as others here. I know I occasionally draw out concepts or how things work. If it was the first meeting and they knew nothing about you, I'd frankly be more concerned with a pre-made illustration.
I personally don't feel comfortable making a recommendation until 3rd appointment. Occasionally 2nd meeting if the needs are super simple.
Did they talk about anything besides a FIA? I don't see how the FIA only reps convince anyone they have the right solutions. The 222 guys are even worse.
Personally I'm not as turned off by the whiteboard stuff as others here. I know I occasionally draw out concepts or how things work. If it was the first meeting and they knew nothing about you, I'd frankly be more concerned with a pre-made illustration.
I personally don't feel comfortable making a recommendation until 3rd appointment. Occasionally 2nd meeting if the needs are super simple.
Did they talk about anything besides a FIA? I don't see how the FIA only reps convince anyone they have the right solutions. The 222 guys are even worse.
Posted on 6/7/19 at 6:44 pm to wasteland
Went to a "free" meal against my better judgement put on by the rep. Initial pitch/whiteboard info was dead on with my research. Follow uo meeting ended up as a whiteboard rehash of the dinner with no specifics on the actual product I would be buying. When I started asking question, reps demeanor changed and it was obvious that if I wasn't buying they werent giving me any more info. FIA product only even though they claimed to have alternatives, they wouldn't discuss them. The overall feel was they pitch and you buy, no questions no input. Like I said, I knew better going in and it turned out exactly as I expected. Granted, I'm a hard sell and have a lot of questions.
Posted on 6/7/19 at 7:05 pm to done dancing
Illustrations aren’t bad. They make it easier to explain the concept if you ask me.
Posted on 6/7/19 at 10:02 pm to done dancing
Thanks for answering. From what you describe, I'd be uneasy too. Related questions should all be welcomed by the rep. Its a lot tougher to know their interest and concern with no questions.
How did it end? Were they asking you to commit? Sign something? Asked for another meeting?
Sorry for the questions but I'm always curious about how others operate. It almost always confirms I like my process
How did it end? Were they asking you to commit? Sign something? Asked for another meeting?
Sorry for the questions but I'm always curious about how others operate. It almost always confirms I like my process
Posted on 6/8/19 at 7:33 pm to done dancing
Thanks for answering. I always think its crazy how some cannot or willnot answer questions. Usually when I hear only FIAs were pitched the agent doesnt carry anything but an insurance license. Good luck on your research
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