- 2,045
Yeah I understand that, I was questioning where you got the idea that an annuity would be a good fit for someone wanting to leave a little 10k to their kids. Hope they understand the tax implications.
Assumption Closing
- Thread starter bboman23
- Start date
Yeah I understand that, I was questioning where you got the idea that an annuity would be a good fit for someone wanting to leave a little 10k to their kids. Hope they understand the tax implications.
- 5,947
I think that some times we younger folks treat tax implications a bit different than older folks who are looking for security against market volatility. Some of these folks grew up hearing granddad stories about how bad the 30's and 40's were, and they never forgot. Money under a mattress is still a real thing. Had a lady early in my career tell me about how much she had under her's. Another gentleman told were he kept his silver spoon collection... maybe I should have work for the FBI... no don't think I would want to work for those crooks.
Just saying... older folks think differently then we do. And that's ok, we are living on their hard work right now.
- 2,045
Well yeah, that doesn't sound like the same thing as wanting to leave a little 10k to your kids.
- 2,045
Also it's a little disturbing that you think seniors don't care about tax implications as much as younger people. They don't care until they realize what they got themselves into, then you'll hear about it like you wouldn't believe.
-robby
-robby
- 5,947
Hmm... have you forgotten the fickle public you deal with. I have often provided services for a client who at the time had very well verbalized reasons for their request... then as time went along views changed. About as much as the tax issues they face.
Been through '07 and '08... ask any Ed Jones guy how their clients viewed safe havens then and possible tax consequences. I think if we are not careful we forget history about as fast as our clients.
If I had someone that wanted to leave 10K to their family and they were fairly sure they would not need the money for anything else, I would suggest a single premium WL plan. At age 65, ti would enable them to increase their legacy to about $15K+
- 26,179
- 5,947
Keeping good notes is so important, especially when you provided annuities. Follow-up like you mentioned is a great idea.
Just been around, and people respond to the current events that surround their lives and can and will change their minds...
- 26,179
I just sent a 69 yr old female a UL app and illustration by email. I outline the coverages and premium in the body of the email of course. Even though this illustration does not have a signature page I am having her sign it and sending it back anyway.
Just because I am paranoid doesn't mean they are not out to get me.
I have a buddy that keeps journals. He has hundreds of them. Give him a date and he can tell you the phone calls and what they were about.
Just because I am paranoid doesn't mean they are not out to get me.
I have a buddy that keeps journals. He has hundreds of them. Give him a date and he can tell you the phone calls and what they were about.
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JimmyCrappedCorn
Guru
- 282
Ed Jones agents are useless for everyone except themselves. A week before the thing crashed if someone called one of those Edward Jones guys they were told to stay calm and don't sell anything this will all pass. When it all did crash the Edward Jones guys were told to tell their clients to not sell and stay in and if the client was still insisting on selling then the Ed Jones agents were instructed to get the client to go ahead and sell and put the money in a low interest bearing Edward Jones holding account. The brokers only concern or goal was to keep the money in house.
