What is the difference between a fixed index and a variable index annuity? Advantages/disadvantages? Is it wise to invest some money in both types? What annuities would you suggest? I am new to this. Thanks. I just came into some money and need guidance as to how to invest it. Suggestions?
Terry Says: I would suggest you NOT start with an annuity! I can’t make suggestions blindly, without knowing any of the facts of your life, your financial situation, your age, your debts. I’ve been getting quite a few of these posts lately, and I know that all of you who “just want to know what to buy” are ripe for the picking by sharp salespeople who only want to make a commission! I’d suggest you leave ALL your money in a bank, earning next to nothing — but safe until you do some homework. I wrote The Savage Truth on Money (available on my website for about $10 from the bookseller there) exactly for people in your situation! I’m not trying to sell books. I hope you will invest at least that much to do your homework about investments and risk and reward, including all types of annuities.