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re: Do I have a bad financial advisor?

Posted on 1/27/24 at 11:52 am to
Posted by Saint5446
Member since Jan 2014
825 posts
Posted on 1/27/24 at 11:52 am to
That seems to be the consensus. Are the reason people hate annuities just because of the high fees or limited investment options causing you to miss out on gains?
Posted by TDTOM
Member since Jan 2021
15193 posts
Posted on 1/27/24 at 12:23 pm to
quote:

Are the reason people hate annuities just because of the high fees or limited investment options causing you to miss out on gains?


For the most part, yes. I would also add in the surrender charges if you change your mind.
Posted by UpstairsComputer
Prairieville
Member since Jan 2017
1590 posts
Posted on 1/27/24 at 12:26 pm to
There are so many problems with them…

Lock up period or surrender charge
Under 59.5 a 10% penalty if not in an IRA
If in an IRA, paying for deferral when you already get it
Fees
Limited options
Sold with “guarantees” that are easily achievable without all the contractual terms
Etc etc
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