Jump to content
Sign in to follow this  
why_should_we_trust_valic?

Will The Valic Rep Kiss Me Before He...

Recommended Posts

I was checking out the Valic return info at: http://www.aigvalic.com/valic2000/valicfiles.nsf/lookup/performance/$file/performance.pdf

 

Wow! You can lose over 4% a year in their money market fund! The word "criminal" springs to mind. Valic truly sucks.

 

I also love they way they tout their high insurance rating. Of course they are strong and will remain strong as long as they continue to extract so much money in the form of fees while paying out so little in the way returns. The solution is for people to cut off their water.

 

Did I mention that I hate Valic?

 

Regards

 

Sorry for the rant.

Share this post


Link to post
Share on other sites

Exactly, in my report I recently finished, I documented that both Money Market Accounts were providing negative returns as of June 30, 2003. People think this is a safe investment, but little do they know that the high expenses eat up the low money market returns.

 

VALIC's response in my thinking is that they would say if someone wants a money market tell them to go into the Guaranteed Account.

 

Isn't this process fun!!!!!!!!!! It sucks, along with VALIC!!!!!!

Share this post


Link to post
Share on other sites
Guest We're singing the same tune

If you have read my past posts, you know that I have Valic at work. I'm trying to convince my company to switch to TIAA-CREF. Most of the executive staff undestand the high fees and low returns associated with Valic, but some of them don't think it would benefit most employees in the company. We are not for profit and most of our money comes form the state. There are very few people who make over $80k. Most of the money employees have in their accounts are in the fixed account. As a matter of fact, 60% of the employees have it in this account. My HR VP doesn't think that people want to invest in the stock market, because they don't understand it. My HR VP is not sure if it makes sense to switch. I told her that it is the responsibility of the company to look after its employees. If we're going to contribute to an employees retirement plan, we should get the best plan possible. And this requires educating our employees. If I can't get them to switch, I'm going back to Valic and request information about the American General mutual fund product they offer. If we can't get this, I'm going to recommend that we offer the Schwab Personal Choice Retirement Account to employees who want to invest in mutual funds. It is fustrating, but worth it.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

×
×
  • Create New...