Seniors and retirees need to be aware of the dangers of investing in an Equity Indexed Annuity. Read on to find out how to protect yourself. Millions of retirees are being duped into buying the latest high-cost, high-commission product served up by the insurance industry-Equity Indexed Annuities (EIAs). According to the Advantage Group, a St. Louis based research-consulting firm, sales of EIAs thru June 2003 totaled $7 billion dollars. I sincerely hope none of that money was yours!
Equity Indexed Annuities (EIAs) have become the hot product of late. I believe you can easily find other alternatives that will bring a better return, without locking up your money or levying hefty surrender penalties. I'll discuss these alternatives in the next two articles. But first, you should understand two things: your purpose for investing and how EIAs work.
Every investor would like to increase their income without compromising their stability. Maybe that's why Equity Indexed Annuities (EIAs) have become so popular, because of their promise of providing a stable income stream. But there are a number of ways that you can easily outperform what an EIA can deliver. In this article, I'll show you how to meet your need for stability and income in your portfolio.
Rising interest rates are another reason to avoid Equity-Indexed Annuities. If you are retired or near retirement, don't let yourself be talked into purchasing an Equity-Indexed Annuity. If you do, it could easily be a decision you regret for many years to come.
If you've talked to a broker or agent about rolling over your retirement account, there's a good chance the advisor recommended you invest in a Variable Annuity. Don't do it! I believe the only reason a variable annuity is recommended for an IRA is so the advisor can earn more money. Let me explain.
Last week I shared with you the real reason advisors push IRA accounts into variable annuities: the commission. If you're getting ready to retire with a large IRA rollover, or your current IRA account is nearing the end of any surrender penalties, chances are you'll be pitched this product. So this week I'm going to reveal more secrets about the truth behind the variable annuity sales pitch.
Q. Jeff, I've been approached by someone touting the benefits of equity indexed annuity with "Company-X". They say my money will be safe, there's a minimum return and a cap with a participation rate of 100 per cent. They also said I'd probably average between 6 per cent-7 per cent without any risk to the money I put in. I'm confused by all this. Any help you can give would be greatly appreciated!
It's hunting season out there, and unfortunately, you're the target! The financial services industry is on the hunt for your account and they know when you are most likely to take their bait. Knowing when you are most vulnerable is the first step in keeping you and your nest egg from being snared.
This article is about a charlatan, defined as one who attracts customers with deceptive tricks, targeting seniors. Seniors in your community may be targets of financial charlatans. I've received a number of disturbing reports recently from seniors about the abusive tactics of some advisors. Their actions are not only unethical, but they border on the criminal. You must be aware of these despicable tactics so you and your nest egg are protected.
Buyer's remorse-we've all had it from one time to another. But when it comes to investing your life's savings, the last thing you want is an investment that you will soon regret. Here are some secrets that can prevent that from happening.
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