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Strategies & Market Trends : Ask DrBob
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To: ToTradeWell who wrote (81636)11/17/2003 11:19:35 PM
From: kleht   of 100058
 
ToTradeWell: I've never heard of putting variable annuities into a retirement account. Sounds to me like there is a real lack of fiduciary responsibility here. An annuity can be set up for anyone using post-tax dollars and have tax-deferred benefits. And there is no limit on the amounts that can be tax-deferred in this manner. But in a retirement account?

Gee, wouldn't it be better to have retirement accounts set up and then fill them up with tax-exempt bonds? We would still have to pay taxes on the withdrawals. But at least then we would not have to be paying for the worthless insurance related to the variable annuity.

I agree with you that variable annuities are the worst of the worst. If someone wants tax-deferral, annuities are the last thing anyone should consider.

I empathize with you on this one. Perhaps a new "new" company is in your foreseeable future?

Good Luck!!
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