Apr 28

I would like the names, of theses plans and are they Guareented

one comment so far...

  • John W Said on April 28th, 2010 at 9:39 am:

    Variable Annuities in my opinion are a garbage product. You will have a hard time finding anyone who likes them besides the guys trying to sell them to you. I have had a good track record with my personal investments over the last 20 years. The one big mistake I made was rolling a 401K over to and ING variable annuity. I had to wait 7 years to get out ot the contract – literally had a nice dinner and Champagne when I finally got out of it.

    If you are rolling over a 401k of 403B you have some limitations on where you can put that money. I recommend opening and IRA with someone like Fidelity where you can manage the portfolio. You will have more investment options CD’s, stocks, bonds, mutual funds.., and less fees.

    Also, don’t get sucked into the sign in bonuses with the variable annuities – it’s not worth it. Keep in mind that the guys selling you variable annuities are usually commissioned based insurance salesmen.

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