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s.romero

Annuities, Insurance Companies, Index Funds....all Bad?

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S. romero,

 

Here is my article that fully explains the entire picture of why annuities, specifically the Tax-shelter Annuities "TSA" are so overwhelmingly sold to public k-12 educators, and why our colleagues are enamored with this terrible product and the "charming" sales person: http://latebloomerwealth.com/2015/03/08/how-does-irony-explain-the-403btsa-safe-money-guarantees/

 

Educators are not the only ones getting seduced by the guarantees. Here is an outstanding article by a MD: http://whitecoatinvestor.com/dont-mix-insurance-and-investing/

Even medical doctors, of all specialties, get suckered into these turkey products!

 

What do you think now?

 

Steve

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Dan

 

Just to be clear, the guys that sold me annuities and inappropriate commissioned products had the CFP designation and worked for insurance outfits so the fact they have that designation does not alone make them a safe bet. Having them sign a fiduciary pledge though puts them on notice that you are smarter than the average bear.

 

Also I wonder if all folks getting the CFP designation face the same standard coursework /testing standards. I worry that certain organizations might be able to finagle abbreviated CFP preparation for its employees just so they claim its employees are certified.

 

 

Thanks for sharing this.

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