Ask Terry Questions Mutual funds/stocks — or annuity

Mutual funds/stocks — or annuity

By Terry Savage on March 18, 2018 | Financial Planning / Retirement

Our financial advisor is recommending that my husband and I move $250,000.00 from our mutual fund account and put it in to a 7-year annuity at 6% due to possible impeachment, etc. There is currently $326,000.00 in the fund. We also have a good amount in IRA's, Traditional and Roth. My thought is to keep our money in the mutual fund. Is this what you would recommend as well? We are both 58 and financially stable. Our house on 4 acres is paid for and we have a $24,000.00 mortgage on 3 acres of investment property next door to it. We have $50,000.00 of ATT in our stock portfolio and I had asked our advisor what to purchase instead. She recommended that we take $25,000.00 out and purchase Alibaba stock. My thought on this advice is that I agree although I would appreciate what your thoughts are. Thanking you in advance, Lisa

Terry Says

Oh, NO!  Not another annuity salesman masquerading as a financial advisor!   You are contributing to his/her retirement plan with a big commission!  You need a new financial advisor -- one who says he/she will act as a FIDUCIARY (even though the law no longer requires this registration) -- someone who fully discloses all fees and commissions, and agrees in writing to put your interests ahead of their own. Feel free to show this answer to your "advisor".   Ask if she/he will reveal the total commissions received when you make this investment!  Scaring people into investments on the threat of a potential "impeachment, is a new low in sales pitches! Then go to -- the organization of fee only financial planners, and get a thorough review of your situation for a flat fee, including your retirement needs, withdrawal scenarios, estate plan, and possible need for long term care insuran

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