I am being advised to put all my retirement funds in the Nationwide New Heights 12 yr uncapped index annuity using the Mozaic and Zebra indexes to gain market potential without risk. Yea or nay and why?
Thank you

Terry Says:

I think  you’re contributing to your salesperson’s retirement — not your own!  Please read my latest column, just posted, on these fixed index annuities and all the many ways they don’t give you what you think you’re getting.  Here’s a link to Think Twice About Fixed Index Annuities.

With this product, you’re locked in to surrender charges for 12 years — and that “uncapped index” certainly isn’t the “whole” stock market, and doesn’t include dividends, which over the years contribute about 40% 0f the  S&P 500 index total return.  Beware.