- 6,997
And this is coupled with the fact that the annuity only represents 10% of op's retirement money.The issue is not Fees.
The issue here is Income.
$319k in mutual funds will produce $15k of income per year.... max.
So your advisor is recommending a $10k per year REDUCTION in your retirement income.
Assuming the $25k is guaranteed for life, regardless of account performance....
Then this recommendation is likely not in your best interest.
Ask your advisor to show how this creates a higher income for you.
Ask your advisor how this creates a safer income for you.
Answer: it doesnt.
I don't know if my objection here is justified or not, but I'm not liking the concept of the advisor creating OP's thought conflicts on fees for just 10% of his money. It seems like there is some kind of problem with that focus.