- Thread starter
- #11
- 6,995
Sounds good , when you can get logged in shoot me a message on FB and we set up a call/screen share. Full disclosure , I am probably going to barter for some Facebook marketing advice out of you
Deal!
Should I roll into an annuity?
- Thread starter HoosierLife
- Start date
Deal!
jasperjohns
Super Genius
- 198
HoosierLife,
I would strongly recommend you to stay away from National Western and F&G as the renewal cap rates have been TERRIBLE with both carriers. You will be fortunate to earn more than a 2.5% average. Sure if you add the 8.5% comp that brings you up to about 3.7 but you should be able to better than that with a company like Great American. I have many clients with them (specifically in the American Legend product 7 year product) and have not seen any cap reductions for 2 and 3 years in a row. In regards to Equitable, they are so new to the FIA market no one knows how they will behave in that regard.
Final note National Western will take upwards of 45 days when you eventually try to move the money to a new carrier. Good luck.
Shocked that the Fidelity 401k has high fees as they are usually very competitive in that regard...
I would strongly recommend you to stay away from National Western and F&G as the renewal cap rates have been TERRIBLE with both carriers. You will be fortunate to earn more than a 2.5% average. Sure if you add the 8.5% comp that brings you up to about 3.7 but you should be able to better than that with a company like Great American. I have many clients with them (specifically in the American Legend product 7 year product) and have not seen any cap reductions for 2 and 3 years in a row. In regards to Equitable, they are so new to the FIA market no one knows how they will behave in that regard.
Final note National Western will take upwards of 45 days when you eventually try to move the money to a new carrier. Good luck.
Shocked that the Fidelity 401k has high fees as they are usually very competitive in that regard...
- Thread starter
- #13
- 6,995
TBO I'm just assuming the fees are high. They may be great for all I know.
FIAs are too conservative for a 20 year time horizon. The exception would be using one for the bond portion of your portfolio (80/20 or 70/30...something like that.)
- 4,618
Never heard of an insurance carrier by the name of Sammons. Is it a new startup or something?
- 477
I believe they own Midland National
- 5,569
Parent company of North American and Midland National
- 2,038
Hard to say without knowing the results of the fact finder.
- 16,923
I think agents are crazy if they don’t put money into indexed annuities each year. I’ve done it for years and now I’m getting closer and closer to my golden years and very happy with my decision.
Could I have accumulated more in the market? Possibly. But I left a LOT of money in the market for 20 years with an Edward Jones advisor. When I rolled it all out I basically had my principle.
Could I have accumulated more in the market? Possibly. But I left a LOT of money in the market for 20 years with an Edward Jones advisor. When I rolled it all out I basically had my principle.
Not possibly, you absolutely would have by a large margin.
If you're closer to retirement, they are a great option. Still, not for 100% of your assets (just like IUL should not be either)
At 20 plus years in time horizon, you have to have substantial exposure to equities to have adequate retirement savings (unless you make crazy bank and live well below your means-then you can basically do whatever the hell you want-but that is a tiny % of people).
By the way, if you have just principal after 20 years, your advisor was either incompetent or straight robbing you. I'm leaning towards the latter.
Plus, most Ed Jones reps are terrible. They have limited options and are run like a cult.
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