I have searched and did not see this topic in our archives.
Am meeting w/ an advisor about options for my paltry 125k IRA. She has hinted that a variable annuity with Jackson National Life Insurance Company, Perspective II family of funds would be a good place to go.
Do most advisors charge around 1.5% of your total annually to manage an account? This is a big decision - and I am reseraching the company and the annuity/IRA thing. I want to know WHY an annuity is a good idea for an IRA. The fund also charges expenses, of course.
Will think over the info I get tomorrow - no snap decisions for me. I thought someone here may have been down this road already.
There is NEVER a reason to put a variable annunity in an IRA. This is a sucker investment. The "advisor" wants to generate a high commision. You are paying twice as many fees because you are putting a tax deferred investment in a tax deffered investment (IRA). Call Fidelity, Vanguard or T. Rowe price immediately. These mutual fund companies will give you good ideas.
Senior Member - 3K
posted: Oct. 11, 2006 @ 8:13p
Yeah, to echo what was said, I'm not sure how this could possibly makes sense. This guy is just trying to make a fast buck and big comission off of you. I wouldn't do it.
Senior Member - 3K
posted: Oct. 11, 2006 @ 11:15p
fire your advisor. she does not have your best interests at heart.
posted: Oct. 11, 2006 @ 11:18p
About the 1.5% annual management fee - for comparison you could put your $125k into a total market index fund at Fidelity and pay 0.07% per year.
posted: Oct. 11, 2006 @ 11:19p
[Q]When Are IRA's best placed in a Variable Annuity? never
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