4 Replies Latest reply on Aug 7, 2009 5:15 PM by farrken

    Annuities

    MrWhoB

      Getting close to retirement, I have talked to 3 financial advisers who have all wanted to take my 401 k and put it into an Annuity with them. The rate of return looks great, but I have also heard annuities can be somewhat touchy and sometimes fall into the scam category. Anyone have some insight into ANNUITIES???? for consistent income, any other options???

       

        • Re: Annuities
          douglass
          read the consumer reports article on annuities, it is better than the Forbes, Money, Smart Money, or Kiplinger articles on annuities.  Learn the true cost, all expenses incurred, very complicated to find this out, get everything in writing and if the seller will agree, get the conversation on video tape, I wouldnt do it subversively as it would probably not be submissable in court if you decided to sue later for misrepresnetation of the true costs involved. 
            • Re: Annuities
              nevertoolate
              douglass said...



              read the consumer reports article on annuities

               

              Does it include a report on TIAA-Cref's' annuity? Do you recall which issue?

              Thanks.

                • Re: Annuities
                  douglass
                  im at the age to be thinking about annuities so remembering which issue of con reports the annuities artice was in is out , just go to the index and the articles are listed by topic.   one thing is that tiaa has five times the reserve needed to pay on its annuities, thats a good thing, whether your stomach can tolerate knowing there is no fdic or sipc or ncua or otherwise is another.  full faith and credit or   claims paying ability used to be enough, in this toxic corpporate mentality world im not sure it means what it used to.