Is Social Security Still The Best Annuity On The Planet?
When it comes to annuities, I lean on my friend, and renowned expert, Stan the Annuity Man. He’s told me many times, “Social Security is the best annuity on the planet.” Stan cites two primary reasons why he feels that way. The federal government guarantees Social Security.
No One Ever Admits their Indexed Annuity Buying Mistake
I had a recent conversation with an annuity industry big wig that seems to be “in the know”, but I’m always aware of the pro-annuity agenda oozing through these discussions. It’s like talking to a Kool-Aid drinking Republican or Democrat that is “all in” with their specific political agenda, regardless of the facts. Most of what is said is pre-rehearsed agenda speak and you have to pay close attention to get some real facts.
The truth about the “Super 7 Annuity” sales pitch
I was forced to write this article. I didn’t want to, and even contacted a business acquaintance who is actually one of the main people at the newsletter that is promoting this “Super 7 Annuity” garbage. He told me that he would share my concerns with a couple of his editors, and they would be in touch. That was over a month ago. I’ve still never heard from them and it doesn’t look like I will, which forced my hand to do this CONSUMER ALERT piece to save people from one of the most fraudulent sales pitches I’ve seen in a long time.
Shopping for annuities in the ethnic food section
I was working for Dean Witter (remember them!) back in the day when the Fidelity, Vanguard, Schwab experiment started. Up until that point, the brokers (i.e. masters of the universe) at these large firms almost had a monopoly if a person wanted to get any type of financial product.
Annuities are not market growth products!
My apologies to all of you dreamers and “cake eaters” out there in annuity sales pitch land, but annuities were not designed for market growth. Got it? Good! Even though my previous statement is annuity fact, below are some of the predictable responses that always roll in.
There’s no such thing as a ‘Hybrid” annuity!
That smell hovering over the annuity industry can be sourced to indexed annuity hucksters claiming that their favorite product is now being magically reborn as the fictitious and fraudulent “hybrid” cure all miracle strategy. The only thing hybrid is the combination of vomit and crap this misleading sales pitch creates. How’s that for an opening!