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Started By
Message
Variable Annuity
Posted on 5/14/15 at 1:40 pm
Posted on 5/14/15 at 1:40 pm
Rolling about $245k into a trad. Ira. 48 yrs old. My ameriprise adviser suggeted putting $100k of that into a variable annuity. Thoughts?
Thanks
Thanks
3
Posted on 5/14/15 at 1:45 pm to FlowMaster
never saw an annuity I liked and I dont have all the details, but if you did this would it be locked into the rock bottom interest rates that are common right now
also...ask him what his commission is on selling that product
also...ask him what his commission is on selling that product
Posted on 5/14/15 at 1:47 pm to FlowMaster
quote:
Thoughts?
Get the hell out of Ameriprise.
Transfer everything to vanguard.
Ameriprise has many hidden fees and their mutual fund selection is sub par at best with very high expenses.
Don't do the annuity. Never do annuities. You're 20 years away from retirement. Use a target date fund.
Posted on 5/14/15 at 1:49 pm to white perch
quote:
Get the hell out of Ameriprise.
Posted on 5/14/15 at 1:51 pm to Tigerpaw123
quote:I think you're thinking of a fixed annuity.
locked into the rock bottom interest rates
Posted on 5/14/15 at 1:53 pm to Tigerpaw123
Variable annuity has nothing to do with locking you in to interest rates.. Your confusing yourself with a fixed annuity.
OP to give you the best answer on this it depends on how much income you're needing and then how much of that income is going to come from this portfolio. If you're not needing income from this Ira then the need for an annuity drops significantly imo.. Unless you want that principal guarantee.
OP to give you the best answer on this it depends on how much income you're needing and then how much of that income is going to come from this portfolio. If you're not needing income from this Ira then the need for an annuity drops significantly imo.. Unless you want that principal guarantee.
Posted on 5/14/15 at 1:58 pm to FlowMaster
Don't do the annuity and find a new advisor.
Posted on 5/14/15 at 3:59 pm to Shepherd88
quote:
Variable annuity has nothing to do with locking you in to interest rates.. Your confusing yourself with a fixed annuity.
Ehhh, not true. Hardly anyone purchases a VA without some sort of bells and whistles, and the prices/attractiveness of those riders are highly dependent on interest rates.
As for the OP, I agree that you should bail from Ameriprise, and it has nothing to do with the VA recommendation.
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