Investment concerns at my age
So I have a contract annuity with Lincoln Financial that is set to expire in late March (this month) Should I keep it in an annuity guaranteed at 4% or move to a Edward Jones account, I am concerned about losing my principal $169,000.00 in Lincoln and $194,000.00 in Edward Jones with the markets as they are, what are your recommendations, I am 70 and very concerned, I still work and have no debt. Thank you
Terry Says
You actually can do much better than 4% by rolling it into a new annuity — for three or more years. Read this article, and contact Stan Haithcock, as mentioned in the article: https://www.terrysavage.com/an-annuity-that-works-for-you-myga/
I trust Stan completely to give you the best advice on the annuity rollover. But the issue of what you have at Edward Jones is completely separate. I don’t know what you are invested in– do you?? Is it a balanced portfolio of stocks/bonds and low-cost mutual funds? Or is it just “stuff” that a broker made big commissions on??
This is where you need an overall financial plan,done by someone who is not trying to sell you “stuff”! Please read this link to find a fee-only FIDUCIARY planner who will look at your overall retirement situation and give you advice not only on investments but on how you will make it through your retirement years successfully.
