- Staff
- #2
and how old is this person....hahahahahaha
- Thread starter
- #3
In general, a 45 year old has no business having an annuity. Let alone a bonus product with low caps.
Why would it not be in their best interest to roll out the funds to an IRA and conservatively manage it?
This makes me sick! Quit looking at commissions to make a recommendation. If you do not have the licenses to do the right thing then change your prospecting methods to attract the right individuals.
Why would it not be in their best interest to roll out the funds to an IRA and conservatively manage it?
This makes me sick! Quit looking at commissions to make a recommendation. If you do not have the licenses to do the right thing then change your prospecting methods to attract the right individuals.
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- #5
- 2,455
I agree but wouldn't have quite put it the way you did. You don't know all the facts. His client may have money invested in funds out there right now, HTF would you know? You just assume so I guess.
Even with more details though, if he wanted an annuity I don't think I would use that product. Lots of other good options out there and ones that won't lock him in forever like that one but again we don't know the details of the case.
I have a 44 Y.O. client who has 2 annuities with me. He had a Variable at age 30 that I didn't do. Anyway he lost thousands in the market by buying individual stocks, AskJeves was one of them. I can't get him to go into a conservative fund. I put him in short term products figuring he'll change his mind and I'll pass him onto my RIA.
- 2,455
Why not look for something short term that pays well with some bailout options in case things turn around here soon. With caps as low as they are, why tie up for 14 years. I'd like to be able to look at the landscape again in a few years. The current one looks bleak for your age.
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Are these bond rates you speak of locked in????......and an article I found with a quick search. I'm still learning about bonds.
Investment grade corp bonds......beware of the risk:
Investment Grade Corporate Bonds: Beware the Risk - Seeking Alpha
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- Thread starter
- #9
that sounds sort of more what i may be looking for. thanks for the input...
Why not look for something short term that pays well with some bailout options in case things turn around here soon. With caps as low as they are, why tie up for 14 years. I'd like to be able to look at the landscape again in a few years. The current one looks bleak for your age.
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Are these bond rates you speak of locked in????......and an article I found with a quick search. I'm still learning about bonds.
Investment grade corp bonds......beware of the risk:
Investment Grade Corporate Bonds: Beware the Risk - Seeking Alpha
Yes, if you hold the bond to maturity you can calculate the YTM with certainty.
I skimmed the article posted and the main point is ensuring the issuing company is financially stable to meet its obligations. I would not recommend many bonds in the financial sector.
I use this as an alternative to annuities quite often when individuals want little to no risk and more liquidity or want income payments that beat any income rider and preserves majority of the principal.
