Use of variable annuities vs other options.
I’ll be 65 yrs old in April and currently have a financial advisor who has placed $600k in two Jackson Annuities – Elite Access and Perspective II. When I retire in December of this year, I’ll have another $800k to invest. Befcore turning over the remains money for him to invest, are there other avenues I should explore or simply find a different advisor. Between my wife and I, we anticipate roughly $7k a month from pensions and SS. I welcome your general direction.
Terry Says
Oh, please don’t do that! You’re setting up your advisor for retirement — not yourselves! Here’s a link to an article I wrote recently on the subject of tax-deferred variable annuities, sometimes called “indexed annuities“.
You are not dealing with an “advisor” — you are dealing with a salesperson!!! Get an independent review of your annuities from my trusted expert: Jeffrey Oster (email: Jeffrey.Oster@RaymondJames.com) Yes he is in the business, but I have known him for 35 years and trust him completely to tell you the truth about your annuities.
And if you need an overall financial plan, search for a FIDUCIARY advisor you can trust at www.Wealthramp.com. A fiduciary fully discloses all hidden fees and commissions, and promises to put your needs ahead of his/her own.
