Ask Terry Questions Fixed Indexed Annuities

Fixed Indexed Annuities

By Terry Savage on April 02, 2024 | Financial Planning / Retirement

I’m in conversation with [broker named] about Fixed Indexed Annuities and using them to replace the Bond part of our portfolio to protect from downside in the market. I’m 661/2 and retired. My wife will be 62 at the end of the year and is looking at retiring. I’ll tell you we are debt free and have around 1.8 million in retirement account in a traditional 60/40 split. Can you recommend FIA’s to replace bonds and can you recommend this firm??

Terry Says

I absolutely do NOT recommend fixed Indexed Annuities at any time — since the indexes are “made up” and they are laden with fees. The only ones who get rich on these products are the salespeople! Including the one who is trying to sell this to you!!!

Please find a fee-only, FIDUCIARY, financial advisor who is on your side. Use Wealthramp, which will match you with a carefully vetted advisor you can trust! Avoid this guy like the plague!!

Recent Financial Planning / Retirement Questions



a personal
finance question