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Thanks all for the food for thought.

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Originally Posted by Burleyboy


I know fidelity offers lots of mutual and index funds and etfs but I can't figure out how to research and compare them on their app. I can't even find mutual funds in it and I know they have them.


I can't speak to their app because I don't use it, but logging in to the website allows you to look at all of their funds. Click on Investment Products, then choose from the drop down menu Mutual Funds or ETFs.


"Don't believe everything you see on the Internet" - Abraham Lincoln
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My investment program consists of a safe and a bank bag.
About 15% goes into the bank bag! 😃
Another 15% goes into a bank bag marked "Med".

HINT: needed a med test. The test cost was a bit over $5k.
I asked the receptionist, "What if I pay cash?"
She looked at her computer screen, tickled a few keys and stared at the screen again.
"Then it will be $1500."
I paid cash, got an itemized statement, remitted it to my insurance company.
Got my $1500 back plus a happy insurance company for saving both of us money.

Can't tell you HOW many times I've called med business offices and asked, "What if I pay cash, up front?" and ended up with a significant discount.

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Originally Posted by martinstrummer
My investment program consists of a safe and a bank bag.
About 15% goes into the bank bag! 😃
Another 15% goes into a bank bag marked "Med".

HINT: needed a med test. The test cost was a bit over $5k.
I asked the receptionist, "What if I pay cash?"
She looked at her computer screen, tickled a few keys and stared at the screen again.
"Then it will be $1500."
I paid cash, got an itemized statement, remitted it to my insurance company.
Got my $1500 back plus a happy insurance company for saving both of us money.

Can't tell you HOW many times I've called med business offices and asked, "What if I pay cash, up front?" and ended up with a significant discount.

Cool. Shows what a scam our current insurance-based medical care system is.

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It all comes down to one thing - profit. If a bank or insurance company can't make money, they won't offer the plan. They're all owned by stockholders who expect a return on their money. That's what capitalism is. If a company's officers can't make money for the stockholders, there will soon be a new set of officers.


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Vanguard has super low fees and a huge selection of funds. they also have an advisor service that is good. depending on your portfolio, you either get a personal advisor or a team. they will take your age, risk tolerance, etc and map out a plan for you and maintain it. the cost is for this service is .03% of your portfolio a year, which is very low.


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Originally Posted by Rock Chuck
12 years ago my brother paid $75k for an annuity. After he received 2 payments, he had a stroke and died. Goodbye $75k.


In 99 percent of cases that results in a tax free death benefit of up to the whole 75k.

See. Not the annuity. It's the slime ball picking the product.

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Pretty much if you aren't retired AND don't need the money to live on, you shouldn't have one.

But for some clients it's a big win financially.

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Don't! The only advice I have about annuities!

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Originally Posted by NDsnowman
I was a stockbroker and licensed life insurance agent for about 10 years. I sold very few annuities over the course of my career (only 3 that I can think of now) because they didn't make sense for most people and their situation. Given the little info you have provided, I would say look elsewhere. A good mix of stocks, bonds, mutual funds and cash should give you a better return, more control and cost you less in the long run.


I like this advice a lot. Spread the risk, but I'd look for some growth too, with tech and some small cap stocks so as to have some part with large upside potential.

But then, that's what I'm advising my young son who can handle a little high risk activity. BTW, I don't care for mutual funds, but like the rest.

Norm


Norman Solberg
International lawyer, lately for 25 years in Japan, now working on trusts in the US, the 3rd greatest tax haven. NRA Life Member for over 50 years, NRA Endowment (2014), Patron (2016).
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Originally Posted by NDsnowman
I was a stockbroker and licensed life insurance agent for about 10 years. I sold very few annuities over the course of my career (only 3 that I can think of now) because they didn't make sense for most people and their situation. Given the little info you have provided, I would say look elsewhere. A good mix of stocks, bonds, mutual funds and cash should give you a better return, more control and cost you less in the long run.


Yep.

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Annuities are for Hood rats who hit the NFL lottery and want to try to have something in the future.



Other than that too high of fees and too little earnings!


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Lots of them are fee- free now. Like I said, only if it's the right fit, but at least know your facts if you are going to bad mouth something. Not aiming at anyone in particular.

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Wall Street isn't paying for those million dollar speeches by offering "free" products..


Buyer beware.


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Buy dope.

It’s legal here.


Obey lawful commands. Video interactions. Hold bad cops accountable. Problem solved.

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Just remember,annuities aren't bought, their sold! They are not investments,they are insurance products and have a lot of hidden fees.

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TIAA Cref offered me an annuity for the money I have in my TIAA 403B. If I die before 10 years of payments, the remaining payments go to my choice. After 10 years I receive the same amount until I die.
The MONTHLY ANNUITY payment was about the same as my ANNUAL estimated social security total. So my thoughts were I could not possible spend all that money. I will say they are hot on selling the lifetime annuity. Seems they bring it up if I call about something. I have zero intention of going that route, primarily because it benefits them not me. I have enough so they can't tempt me.
Funny too, that they always push it, and apologize at the same time for pushing it. They say it is not a recommendation, just a random thought. Pretty creepy.

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Annuities suck. Don't go there.


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Recently, most annuties had a 5% "return" (not the right word). Not too good with 7% inflation.

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interestng the comments posted.
I was an investment advisor/stockbroker/insurance licensed for about 40years, running at times over 50million in other peoples money.
although licensed, i didn't place to many annuities for various reasons.

I am now retired, and bought two annuities through different fraternal organizations.
they have been in business for over 100years, have no fears regarding security.
they are paying if i wanted to take the income, tax defered as long as i leave it with them similar or above the s&p return on dividends.
in some cases 4% which sure beats the bank.
i can always spend principal if needed, i would rather do that than have the market take it away.
Part of the reason for the annuities was the smoke and mirrors stock market. and i did'nt want to pay taxes on the earnings every year, or have the income bump up my tax bracket.
I paid zero commissions on purchasing, with relatively short contractal holds on the money
one thing i learned during my career is you can paint with to wide a brush.
and yes, i was aware of safariman's crap from the beginning, and after the state finally got on him.
that doesn't make all investment advisors bad.

Last edited by RoninPhx; 12/23/21.

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