Annuities From An Insider: 5 Reasons Not To Buy

Annuities are one of the worst places you can put your money for retirement. It’s a big red flag 🚩 if you’re working with a financial advisor who wants to sell you one.

Advisors get paid for selling annuities in several ways, including front-end commissions and free vacations 🏖 (kickbacks). No joke.

Annuities are marketed as no-risk returns, but this is lying by omission. Watch our video to learn what's actually going on behind the scenes with annuities and why you should avoid them like the plague.

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⏱Video Chapters⏱
0:00 What’s the worst thing you can do in retirement?
0:29 Number one problem with annuities
2:44 Here’s the catch
3:29 As a fiduciary, annuities shouldn’t make sense
5:55 It’s just not good
6:41 They’re not telling you this
6:55 How advisors who sell annuities get paid
8:35 What’s their incentive to help you?

#investmentmanagement #annuity #retirementmoney

[ztcnwxd]

He doesn't like the set it and forget it aspect of annuities, including the salesperson getting the commission up front. My take is he doesn't like it because after the upfront commission, there's no way for him to get his hands on more of your money through additional commissions earned when money is moved around. An advisor once called my mom out of the blue and told her to sell some bonds she had that were earning 9% interest. She had the good sense to first check with my brother, who had arranged the bond purchases a couple of years prior. To say the least he was not pleased, letting my mother know the only one who would benefit from her cashing in such a solid investment was the salesperson, who was obviously looking to earn a commission out of the transaction.

[robertschnabel-pe]

What about MYGA in these uncertain times of the stock market? It doesn’t cost you anything only the guy selling it gets a commission from the insurance company why is that so bad for people who don’t want the risk of the stock market?

[johngill]

MYGAs and SPIAs are fine for some people. You can't just talk about annuities but specifically the type an annuity.

[chrisheminger]

Sir, thank you for your honesty.
Where were you three and a half years ago? Just surrendered my annuity, and it cost us dearly. He the adviser branded an index annuity as Retirementshield and pitched it as a wealth and legacy builder, which we know is neither. Rather, it's an income stream and not a wealth building vehicle.we realized if we lived long enough in retirement, we would run out of money . As you said, not only do they protect you from market loss but also the up side as well. Only made 2.25 percent return when could of easily10% in the equity market.
Bless you for your sincerity.

[HeatherCampbell-kcfx]

It's only good for the advisor and insurance company. I am pissed I got one and didn't refuse it. Not sure yet what it will cost me to get out of it. Still have ten more years left in the contract. Ugh!!

[fabjet]

I wish you would have talked about these other investments options that protect the downturns in the market and let you grow your investments faster…

[HarrisFerron]

This is were you get it wrong it is not a investment it is a contract