Last week in my blog post titled Why I Hate Annuities, I talked about a client who is in an unfortunate situation with her annuity. What I didn’t mention was that she has an Indexed Annuity. These types of annuities are structured in way that significantly tilts the advantage to the insurance company instead of the investor.
Throughout the week, I run across articles written by other people that may be of interest to you. This week I am sharing an article from Jack Suntrup of St. Louis Post-Dispatch titled Missouri’s $4 Billion Pension Crisis Is At Our Doorstep.
If you have a pension or are entitled to a pension, whether in Missouri or not, then you need to read this article and my 3 recommendations.
Read more “Articles of Interest – If You Expect To Receive A Pension You Need To Read This!!”
I was recently reminded why I hate annuities so much. A client of ours needed to withdraw some money from an annuity (that was sold to them by another advisor of course – sorry, had to get that in). However, in working with this client, I was reminded just how complex and detrimental annuities can be for people.
Throughout the week, I run across articles written by other people that may be of interest to you. This week I am sharing an article from Mike Piper of Oblivious Investor on whether it’s a good idea to add a guaranteed withdrawal rider to an annuity.
I’m sharing this article because over the next two Wednesday’s my weekly financial planning blog will be on the topic of annuities. My inspiration for this is a client who has a very undesirable annuity that was sold to them by another advisor. She’s had this annuity for over 10 years and it literally has a $55,000 surrender penalty if she were to get out of the annuity. And the sad part is that this surrender penalty NEVER goes away.
Lots is written these days about investment strategies for high income earners. But today, I will be sharing a strategy that you likely have not heard of.
If you’re a high income individual or family, then there is a strong likelihood that you don’t qualify for a Roth IRA. This is unfortunate because a Roth IRA can potentially provide tax free benefits to you in the future. In addition, it can serve as a way to protect you from rising tax rates and can play a powerful “tax savings” role.
In this blog post, you’ll discover that high income earners just may be able to contribute to a Roth IRA even though they don’t qualify! Read more “An Awesome Investment Strategy For High Income Earners Who Don’t Qualify For A Roth IRA”
Throughout the week, I run across articles written by other people that may be of interest to you. This week I am sharing one article which is on the topic of “should you invest or should you keep your money in cash”.
The article is from Noah Buhayar of Bloomberg and is titled, Buffet Nears A Milestone He Doesn’t Want: $100 Billion In Cash.
If you’ve left your job or simply just have an opportunity, should you rollover your 401k? In this blog post, I outline when it’s appropriate to rollover your 401k and when it’s appropriate to keep your 401k in place.
Throughout the week, I run across articles written by other people that may be of interest to you. This week I am sharing two articles that revolve around dishonest advisors.
The first article is from fellow advisor Jeff Rose and is titled 7 Financial Advisors I Would Like to Punch in the Face. In this article, Jeff doesn’t hold back any punches (pun intended) when he discusses the different ways that advisors have defrauded people.
The second article is written by Melanie Waddell and is titled Advisor Lied to Pro Athlete About ‘VIP’ Fees: SEC. In this article Melanie discusses that a Los Angeles-based advisor deceived a professional athlete client by telling them that they were paying much less in fees than they actually were.
Read more “Articles of Interest – 7 Financial Advisors I Would Like to Punch in the Face”
We’ve all been told that when comparing the 15 vs 30 year mortgage, that the 15 year option is superior since you will save thousands of dollars in interest. The banks make you think that this is in your best interest, but often times it is not.
The stock market has been doing very well over the last eight years which has prompted many to think that now is a good time to get out. Following are two articles where professionals make predictions about how it’s not a good time to be in the stock market. However, the research continues to pile up pointing to the fact that it is not a wise investment strategy to choose investments or investment managers that are predictive in nature. Has no one learned their lesson yet???
Read more “Articles of Interest – Take Your Gains and Get Out”