FIFO - Indexed Annuity?

[SanDiego619]

Sounded too good to be true. Thanks for the info

What do you mean?! It's never ever ever too good to be true!

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Joke being the key word because we did not know until this morning.

Your answer is the new thread that was just posted.

To sum things up basically they use NQ funds in an IA with a Rider and never grow the account value.

Cant say Im a fan of the guy's strategy.

So I just spoke with a source who owns one of the sights this article was posted on and the gentleman is using Voya's "Lifetime income annuity." Anyone remember that old thing?

The great thing is that it's really more like a DIA or just FA. The way he gets away with saying FIA is because the roll up is based off an index (S&P.) What nonsense!

 

[Cash]

What do you mean?! It's never ever ever too good to be true!

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So I just spoke with a source who owns one of the sights this article was posted on and the gentleman is using Voya's "Lifetime income annuity." Anyone remember that old thing?

The great thing is that it's really more like a DIA or just FA. The way he gets away with saying FIA is because the roll up is based off an index (S&P.) What nonsense!

I don't really get it. So the guy is laddering annuities and dressing it up? The problem I have is how do you compare all these different strategies?

 

[SanDiego619]

I don't really get it. So the guy is laddering annuities and dressing it up? The problem I have is how do you compare all these different strategies?

Pretty much. The product is a fixed annuity with (I believe) a 9 year surrender schedule. It is an income product that does not have any type of account value. There is an income account that grows and the person triggers income when they choose. Considering there is no account value growing the client would only be at cost basis and therefore you don't have taxable gains. The part I thought was funny was that he calls it a FIFO FIA but its not an FIA. The income account grows by measuring the S&P but the product disclosure even states its not an indexed product. I admit this is just my understanding and could be slightly off in some ways.