Access Money Tax Free?

[VolAgent]

I'm not dismissing anyone. Just making the point that they are trying to make money and not giving advice out of the goodness of their hearts. Controversy helps them make a living.

Educate yourself, Drifting....look at the primary investment vehicle for this strategy from one of your heroes:

Retirement InCome - for Everyone Trust

Oh, and it is your favorite company.

That is hilarious. Ric Edleman hates annuities so much, he is busy pitching one for kids. And it is a variable annuity at that. He is also getting .25% a quarter or 1% a year, not too bad.

 

[scagnt83]

He is also getting .25% a quarter or 1% a year, not too bad.

Yep. Over a 10 year period Id rather have 1% trails on market money than a 7% 1 time annuity commission.... it adds up to be a lot more!

And for the record, most RIAs (Fiduciary Advisers) take at least 1% trails as a Fee. If not they are charging a flat out of pocket fee of $2k-$8k per year.

 

[VolAgent]

Yep. Over a 10 year period Id rather have 1% trails on market money than a 7% 1 time annuity commission.... it adds up to be a lot more!

And for the record, most RIAs (Fiduciary Advisers) take at least 1% trails as a Fee. If not they are charging a flat out of pocket fee of $2k-$8k per year.

Definitely. Not only that, since this is retirement for your kids, he is going to have that money for 50, 60 years or more. That is a long time to collect 1%. Also, I'm sure he is trying to set up ongoing contributions.

Here is the annuity he is using.
https://www-1000.aig.com/OMS/MerchantUploads/edgeSunAmerica/R5171PROKIT.17 01-16-15 .pdf