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Orman Fan Club - Suze Orman's Variable Annuity
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Suze Orman's Variable Annuity Advice |
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Suze (not Suzi)
Orman was asked in the July 2011 issue of "The Costco Connection1"
by a 75 year old who was still working if he should take $150,000 from
his 401K to invest (buy) a variable annuity (VA) that would yield $800
a month.
Suze gave a very, very good answer that we agree with 100%. She said "NO, IT IS NOT. Even if you had stopped working I wouldn't recommend this strategy. I never recommend variable annuities; they often do more for the person selling them than for the person buying them. Your adviser likely gets a hefty commission and you will end up paying fees embedded in the VA that are way too costly. I do not lke variable annuities, plan and simple, and I would think twice about any adviser who suggests you invest in one." We agree. For investmetns we believe are suitable for people retired or about to retire, read iour favorite called "The Retirement Advisor" Newsletter. You can get a Free Issue by clicking the link. Must Read Articles:
Article: How
to Get the Best CD Rates
Note 1: Costco Connection Link: http://www.costcoconnection.com/connection/201107?pg=18#pg18 |
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