What's Your Move?
- Thread starter WhatsHisNuts
- Start date
He never said that on here, but maybe he made the announcement via fax or carrier pigeon.
Good luck with that. You'll need it. I hope you don't have a large position.
I moved 10% of all my retirement plans into Money Market accounts on Monday. Should do the same with my wife's accounts but I didn't (yet). 4& return on MM accounts is a nice hedge and beats a lot of bond performance.
Why not an annuity? I don’t know much about them but don’t they pay a much higher rate in most cases?
Or better yet…. Never mind.
You can use one as part of a late life insurance plan (lock in income for the remainder of your life), but they aren't recommended since the upside is shifted heavily to the salesman. If you have a decent nest egg, you're better off setting up your own version of an annuity using dividends or regular sales from your own portfolio. That way you don't cap your gains (which is what the annuity will do) but you create the same income stream.
Made a big move to cash yesterday (~15% of all our IRA/401k accounts). At most, could go another 5% and let it be but I'll stick with 15% for now.
Have owned brokerage agency for 40 years (recently semi retired.) I have never written an annuity for client. I refuse to write something for someone I wouldn't write for myself.
Best piece of advice on any ins product/investment is ...when they present proposal it will have two columns on returns, projected and guaranteed.
While pitch will be on projected and guaranteed most times ignored. I would have you look somewhere in between leaning to the guaranteed.
