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Message
re: Fixed Index Annuities for income in retirement
Posted on 4/24/23 at 9:32 am to Enadious
Posted on 4/24/23 at 9:32 am to Enadious
quote:
Really what I'm trying to do is to understand fixed index annuities and determine if it's something I should use in retirement.
Summary of thread: Yes, you can use an annuity. No, you shouldn't use it as this guy is proposing.
quote:
FAs aren't willing to get to the details I'm looking for unless I sign the dotted line and turn over my funds.
False. If you have enough assets, I'd bet you could get 10 advisors to give you an opinion. Just find an independent and roll out. The guy who did that white board presentation should be out of consideration.
0
Posted on 4/24/23 at 9:33 am to Enadious
quote:
Really what I'm trying to do is to understand fixed index annuities and determine if it's something I should use in retirement.
If you want reliable set it and forget retirement income that will cover most if not all essential expenses annually for the rest of your life then, yes, do it. But not with this FA. Again, IMO FIA should be used for lifetime income not for 10 years and then do something else. That makes no sense what so ever.
Most CFAs are clueless when it comes to distributions for retirement income.
This post was edited on 4/24/23 at 9:41 am
Posted on 4/24/23 at 10:27 pm to La Place Mike
Simple rule I use in my investing life: If I can’t understand it, even after making a good faith attempt, then I refuse to sign up for it. The reality is the financial products are complex enough that even professionals have to dig through paperwork to decide whether it’s advantageous or not. Simply put, it makes life more complex than necessary.
Posted on 4/25/23 at 6:00 am to Enadious
Enadious, 64?!?!?! Wow, you are old! Is there anyway I can contact you (email maybe)? Idk crap about money, just want to get in touch. We use to work together, I have the same birthday as your wife.
Posted on 4/26/23 at 1:31 am to tigerlife00
Sure. Check your Facebook.
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