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Bufferstock, Financial Advisor suggesting I move 100K into a no fee annuity
My monetary advisory has steered I transfer a portion right into a bufferstock annuity (not a B-share) as a method of insuring a portion of that retirement fund with the opportunity of future volatility (election, and many others) He expenses .8 foundation factors ($800 yearly) Plan provides a one yr or 6 yr possibility..feeling a bit nervous in regards to the market. All is sweet now, however fear that would change shortly. He has not approached me previously with product and I requested about safeguarding subsequently this was his resolution.
Has anybody rolled cash out of the 401k into the sort of annuity for security or is that this an pointless added expense?
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Re: Bufferstock, Financial Advisor suggesting I move 100K into a no fee annuity
Ripleyvondruessen17 wrote: ↑Fri Aug 30, 2024 12:54 pm
At the moment 401 Ok has 500K. Again info..residence value 1.2M, owe 100K (not my ceaselessly residence) age 59 plan to semi retire and proceed to work. Self employed with common earnings between 180-280K relying on the yr. Little or no overhead and may proceed to take a position doubtless half of earnings transferring ahead. SingleMy monetary advisory has steered I transfer a portion right into a bufferstock annuity (not a B-share) as a method of insuring a portion of that retirement fund with the opportunity of future volatility (election, and many others) He expenses .8 foundation factors ($800 yearly) Plan provides a one yr or 6 yr possibility..feeling a bit nervous in regards to the market. All is sweet now, however fear that would change shortly. He has not approached me previously with product and I requested about safeguarding subsequently this was his resolution.
Has anybody rolled cash out of the 401k into the sort of annuity for security or is that this an pointless added expense?
For some purpose, I’m seeing crimson flags.
Is that annuity the place the advisor has his personal cash invested?
I did not assume so.
(I purchased a TIPS ladder, principally guaranteeing I will not run out of cash for the subsequent 30 years.)
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Re: Bufferstock, Financial Advisor suggesting I move 100K into a no fee annuity
Ripleyvondruessen17 wrote: ↑Fri Aug 30, 2024 12:54 pm
At the moment 401 Ok has 500K. Again info..residence value 1.2M, owe 100K (not my ceaselessly residence) age 59 plan to semi retire and proceed to work. Self employed with common earnings between 180-280K relying on the yr. Little or no overhead and may proceed to take a position doubtless half of earnings transferring ahead. SingleMy monetary advisory has steered I transfer a portion right into a bufferstock annuity (not a B-share) as a method of insuring a portion of that retirement fund with the opportunity of future volatility (election, and many others) He expenses .8 foundation factors ($800 yearly) Plan provides a one yr or 6 yr possibility..feeling a bit nervous in regards to the market. All is sweet now, however fear that would change shortly. He has not approached me previously with product and I requested about safeguarding subsequently this was his resolution.
Has anybody rolled cash out of the 401k into the sort of annuity for security or is that this an pointless added expense?
Welcome to the discussion board.
I received fun out of your title. Particularly the “no charge annuity” half, the place you then go on to clarify an $800 yearly charge. There is not a “no charge” annuity in existence so far as I do know.
I do not know what a “bufferstock” annuity is meant to be, or do, however if you wish to safeguard some cash, purchase a brief time period bond fund or a CD or a multi-year assured annuity (MYGA). The final possibility I discussed, MYGA, is an annuity, however it behaves like a CD. The resident annuity knowledgeable on this website goes by the username of “Pungent”. I am going to alert him to your query and see if he responds.
Regards,
“All of us can be higher buyers if we simply made fewer selections.” – Daniel Kahneman
