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Bufferstock, Financial Advisor suggesting I move 100K into a no fee annuity
My monetary advisory has prompt I transfer a portion right into a bufferstock annuity (not a B-share) as a means of insuring a portion of that retirement fund with the potential of future volatility (election, and many others) He costs .8 foundation factors ($800 yearly) Plan provides a one 12 months or 6 12 months choice..feeling somewhat nervous concerning the market. All is sweet now, however fear that might change rapidly. He has not approached me up to now with product and I requested about safeguarding subsequently this was his resolution.
Has anybody rolled cash out of the 401k into such a 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
Presently 401 Ok has 500K. Again info..dwelling value 1.2M, owe 100K (not my perpetually dwelling) age 59 plan to semi retire and proceed to work. Self employed with common revenue between 180-280K relying on the 12 months. Little or no overhead and may proceed to take a position probably half of revenue shifting ahead. SingleMy monetary advisory has prompt I transfer a portion right into a bufferstock annuity (not a B-share) as a means of insuring a portion of that retirement fund with the potential of future volatility (election, and many others) He costs .8 foundation factors ($800 yearly) Plan provides a one 12 months or 6 12 months choice..feeling somewhat nervous concerning the market. All is sweet now, however fear that might change rapidly. He has not approached me up to now with product and I requested about safeguarding subsequently this was his resolution.
Has anybody rolled cash out of the 401k into such a annuity for security or is that this an pointless added expense?
For some cause, I’m seeing pink 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 following 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
Presently 401 Ok has 500K. Again info..dwelling value 1.2M, owe 100K (not my perpetually dwelling) age 59 plan to semi retire and proceed to work. Self employed with common revenue between 180-280K relying on the 12 months. Little or no overhead and may proceed to take a position probably half of revenue shifting ahead. SingleMy monetary advisory has prompt I transfer a portion right into a bufferstock annuity (not a B-share) as a means of insuring a portion of that retirement fund with the potential of future volatility (election, and many others) He costs .8 foundation factors ($800 yearly) Plan provides a one 12 months or 6 12 months choice..feeling somewhat nervous concerning the market. All is sweet now, however fear that might change rapidly. He has not approached me up to now with product and I requested about safeguarding subsequently this was his resolution.
Has anybody rolled cash out of the 401k into such a annuity for security or is that this an pointless added expense?
Welcome to the discussion board.
I acquired 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 choice I discussed, MYGA, is an annuity, but it surely behaves like a CD. The resident annuity professional on this website goes by the username of “Pungent”. I will alert him to your query and see if he responds.
Regards,
“All of us can be higher traders if we simply made fewer selections.” – Daniel Kahneman
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Re: Bufferstock, Financial Advisor suggesting I move 100K into a no fee annuity
I am unsure what “Bufferstock” means, but it surely sounds scrumptious.
Nonetheless, aside from single premium rapid annuities (SPIA – which is form of like shopping for a pension plan) or multi-year assured annuities (MYGA – which is form of like shopping for a CD), annuities are sometimes costly, sophisticated merchandise that earn the vendor some huge cash and the client little or no.
A 401k usually has all of the choices you would want to create a retirement portfolio that matches any desired danger stage. A well-run 401k additionally excludes merchandise which can be predatory or inappropriate for retirement investments. Thus, I might say it is a pink flag for anybody to advise taking cash out of a 401k to take a position elsewhere.
Re: Bufferstock, Financial Advisor suggesting I move 100K into a no fee annuity
Ripleyvondruessen17 wrote: ↑Fri Aug 30, 2024 12:54 pm
Presently 401 Ok has 500K. Again info..dwelling value 1.2M, owe 100K (not my perpetually dwelling) age 59 plan to semi retire and proceed to work. Self employed with common revenue between 180-280K relying on the 12 months. Little or no overhead and may proceed to take a position probably half of revenue shifting ahead. SingleMy monetary advisory has prompt I transfer a portion right into a bufferstock annuity (not a B-share) as a means of insuring a portion of that retirement fund with the potential of future volatility (election, and many others) He costs .8 foundation factors ($800 yearly) Plan provides a one 12 months or 6 12 months choice..feeling somewhat nervous concerning the market. All is sweet now, however fear that might change rapidly. He has not approached me up to now with product and I requested about safeguarding subsequently this was his resolution.
Has anybody rolled cash out of the 401k into such a annuity for security or is that this an pointless added expense?
Worry is sweet for annuity gross sales.
Get most of it proper and do not make any huge errors. All else being equal, less complicated is best. Easy is as easy does.
Re: Bufferstock, Financial Advisor suggesting I move 100K into a no fee annuity
Ripleyvondruessen17 wrote: ↑Fri Aug 30, 2024 12:54 pm
feeling somewhat nervous concerning the market. All is sweet now, however fear that might change rapidly.
I’d suggest an affordable quick time period Treasury fund, for the fearful. Or, higher, since you possibly can’t change the market, you could possibly attempt altering your self. Decide an asset allocation that dials within the quantity of danger that fits you, and stick with it.
Retired 12/31/2015, age 58 years 77 days (however who’s counting?)
