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Strategies & Market Trends : Ask DrBob

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To: FLACK who wrote (81615)	11/17/2003 4:46:28 PM
From: ToTradeWell	Read Replies (2) of 100058

Well said! I think the worst of the worst are the variable annuities. My new company I work for is offering me a variable annuity for retirement - it's the only option. Sure, I'll take the 4% they put in for me, but will I voluntary contribute 6% to have them match it with another 2%? No way! Everyone in my company thinks it's such a good deal. I'm on a different page. If I try to share a few things, no one connects. A variable annuity in Florida maybe a good haven if you're a doctor or hospital administrator that may face a malpractice suit sometime in their life, but that's all its good for. For the average caregiver, the additional management fees, redemption fees, and the absence of no capital tax gain advantages will rip you off no matter how long you hold it. They also can change terms at anytime to benefit their whims. I don't think I could sleep at night knowing I had signed a variable annuity contract. Here is a list of GREAT links for variable annuity fraud: jameshoyer.com

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