Need advise…Allianz variable annuities

[pka4lif]

Meet with a different Financial Advisor. Hell, meet with a half dozen until you find one that puts together a proposal you like. For him to offer you one investment for your entire portfolio is just lazy. (Unless you have undisclosed millions and this is not that big of a deal.)

1) Variable annuities can have a valid place in a portfolio. Allianz is one of the more expensive. If you are serious about guarantees, check about Protective, or possibly Lincoln or John Hancock. They pay the advisor less; but, usually have the best guarantees and the least fees. Don’t let him give you anything about the company: they are all decades old and very stable. Also, at that level, ask about an “A” share annuity. It will save you a mountain of fees; but, he gets much lower trails. Many advisors will not even offer them under the guise of having to pay for it. I know Edward Jones does, I have heard Merril Lynch and some of the other big houses have started to make them available as well.
2) Most financial planners will tell you that no more than 1/3 of your retirement assets should be in a variable annuity. You usually do not need the guarantees they provide. (Believe it or not, the market actually works and a good money manager can actually grow your wealth in these periods!) Consider 1/3 Variable annuity, 1/3 good mutual funds in a balanced portfolio, 1/3 other including CD’s, fixed annuities, bonds, dividend paying equities etc.

There will be market fluctuation; but, you will probably have the rising income supplement you need in retirement.

[Mayer]

magsbag, let me clear up some confusion from previous posts:

1) A and C share VAs do not have the long CDSC (contingent deferred sales charge) schedule, surrender period, it is the B share. Bonus products which give you an upfront bonus will have longer surrender periods.
2) The guaranteed growth is great, but it is to the benefit base, not to your account value. They are two different things. DO NOT confuse the two, and understand the difference before proceeding any further. If you withdraw early, you’re getting the account value minus the surrender charge, not the benefit base.
3) I don’t know what your age is, but there is a cap on that guaranteed growth. Take that into consideration and your investment time horizon.
4) Your advisor may also be a CFP. Having the designation is great, but it can also mean squat IMO. There are a lot of regular Joe-6-Pack like Patrick from patrick.net who called the housing bust years ago, and research analysts with CFAs blind to the bubble. Henry Paulson had an awesome title but what did he do for you and your children?
5) Expenses are high, but remember that you have many subaccount options across many mutual fund families. However, also remember that with this rider and guarantee in place, the insurance company to hedge themselves will restrict your options as to not be too aggressive.
6) If you choose to annuitize, becareful. If you choose the lifetime income option, and you can hit by a car the next day and die, your money now belongs to the insurance company, your beneficiaries get squat.
7) Conversely, if you haven’t annuitized, you have a death benefit that’s probably the greater of your account value or the principal invested going to your beneficiaries. Say the market tanks again and you croak, your beneficiaries get your principal, and haven’t lost anything. Show me a mutual fund or stock that will guarantee that.

There are many ups and downs with annuities. It is neither a miracle product or the bane that some posters make them out to be. Like with everything else, CDs, mutual funds, stocks, bonds, how suitable it is depends on your unique situation which I’m unqualified to advise you on. I can only tell you not to make a quick decision and also look at other insurance carriers such as John Hancock, Lincoln, Jackson National, Pacific Life, etc. They may also have VAs that are more suitable to you and may or may not have better features and guarantees. If your advisor isn’t familiar with these companies, get another opinion. You don’t want a saleman only knowing one product. An independent advisor should be able to give you many options, and not hawk one product. If he/she does, beware they may be in one company’s pocket and have too good of a relationship with the local wholeseller.

Do not take what I’ve just wrote as investment advice. 🙂 Talk to your professional, or many professionals and not get pressured to rushing things. Good luck.

[Mayer]

magsbag, let me clear up some confusion from previous posts:

1) A and C share VAs do not have the long CDSC (contingent deferred sales charge) schedule, surrender period, it is the B share. Bonus products which give you an upfront bonus will have longer surrender periods.
2) The guaranteed growth is great, but it is to the benefit base, not to your account value. They are two different things. DO NOT confuse the two, and understand the difference before proceeding any further. If you withdraw early, you’re getting the account value minus the surrender charge, not the benefit base.
3) I don’t know what your age is, but there is a cap on that guaranteed growth. Take that into consideration and your investment time horizon.
4) Your advisor may also be a CFP. Having the designation is great, but it can also mean squat IMO. There are a lot of regular Joe-6-Pack like Patrick from patrick.net who called the housing bust years ago, and research analysts with CFAs blind to the bubble. Henry Paulson had an awesome title but what did he do for you and your children?
5) Expenses are high, but remember that you have many subaccount options across many mutual fund families. However, also remember that with this rider and guarantee in place, the insurance company to hedge themselves will restrict your options as to not be too aggressive.
6) If you choose to annuitize, becareful. If you choose the lifetime income option, and you can hit by a car the next day and die, your money now belongs to the insurance company, your beneficiaries get squat.
7) Conversely, if you haven’t annuitized, you have a death benefit that’s probably the greater of your account value or the principal invested going to your beneficiaries. Say the market tanks again and you croak, your beneficiaries get your principal, and haven’t lost anything. Show me a mutual fund or stock that will guarantee that.

There are many ups and downs with annuities. It is neither a miracle product or the bane that some posters make them out to be. Like with everything else, CDs, mutual funds, stocks, bonds, how suitable it is depends on your unique situation which I’m unqualified to advise you on. I can only tell you not to make a quick decision and also look at other insurance carriers such as John Hancock, Lincoln, Jackson National, Pacific Life, etc. They may also have VAs that are more suitable to you and may or may not have better features and guarantees. If your advisor isn’t familiar with these companies, get another opinion. You don’t want a saleman only knowing one product. An independent advisor should be able to give you many options, and not hawk one product. If he/she does, beware they may be in one company’s pocket and have too good of a relationship with the local wholeseller.

Do not take what I’ve just wrote as investment advice. 🙂 Talk to your professional, or many professionals and not get pressured to rushing things. Good luck.

[Mayer]

magsbag, let me clear up some confusion from previous posts:

1) A and C share VAs do not have the long CDSC (contingent deferred sales charge) schedule, surrender period, it is the B share. Bonus products which give you an upfront bonus will have longer surrender periods.
2) The guaranteed growth is great, but it is to the benefit base, not to your account value. They are two different things. DO NOT confuse the two, and understand the difference before proceeding any further. If you withdraw early, you’re getting the account value minus the surrender charge, not the benefit base.
3) I don’t know what your age is, but there is a cap on that guaranteed growth. Take that into consideration and your investment time horizon.
4) Your advisor may also be a CFP. Having the designation is great, but it can also mean squat IMO. There are a lot of regular Joe-6-Pack like Patrick from patrick.net who called the housing bust years ago, and research analysts with CFAs blind to the bubble. Henry Paulson had an awesome title but what did he do for you and your children?
5) Expenses are high, but remember that you have many subaccount options across many mutual fund families. However, also remember that with this rider and guarantee in place, the insurance company to hedge themselves will restrict your options as to not be too aggressive.
6) If you choose to annuitize, becareful. If you choose the lifetime income option, and you can hit by a car the next day and die, your money now belongs to the insurance company, your beneficiaries get squat.
7) Conversely, if you haven’t annuitized, you have a death benefit that’s probably the greater of your account value or the principal invested going to your beneficiaries. Say the market tanks again and you croak, your beneficiaries get your principal, and haven’t lost anything. Show me a mutual fund or stock that will guarantee that.

There are many ups and downs with annuities. It is neither a miracle product or the bane that some posters make them out to be. Like with everything else, CDs, mutual funds, stocks, bonds, how suitable it is depends on your unique situation which I’m unqualified to advise you on. I can only tell you not to make a quick decision and also look at other insurance carriers such as John Hancock, Lincoln, Jackson National, Pacific Life, etc. They may also have VAs that are more suitable to you and may or may not have better features and guarantees. If your advisor isn’t familiar with these companies, get another opinion. You don’t want a saleman only knowing one product. An independent advisor should be able to give you many options, and not hawk one product. If he/she does, beware they may be in one company’s pocket and have too good of a relationship with the local wholeseller.

Do not take what I’ve just wrote as investment advice. 🙂 Talk to your professional, or many professionals and not get pressured to rushing things. Good luck.

[Mayer]

magsbag, let me clear up some confusion from previous posts:

1) A and C share VAs do not have the long CDSC (contingent deferred sales charge) schedule, surrender period, it is the B share. Bonus products which give you an upfront bonus will have longer surrender periods.
2) The guaranteed growth is great, but it is to the benefit base, not to your account value. They are two different things. DO NOT confuse the two, and understand the difference before proceeding any further. If you withdraw early, you’re getting the account value minus the surrender charge, not the benefit base.
3) I don’t know what your age is, but there is a cap on that guaranteed growth. Take that into consideration and your investment time horizon.
4) Your advisor may also be a CFP. Having the designation is great, but it can also mean squat IMO. There are a lot of regular Joe-6-Pack like Patrick from patrick.net who called the housing bust years ago, and research analysts with CFAs blind to the bubble. Henry Paulson had an awesome title but what did he do for you and your children?
5) Expenses are high, but remember that you have many subaccount options across many mutual fund families. However, also remember that with this rider and guarantee in place, the insurance company to hedge themselves will restrict your options as to not be too aggressive.
6) If you choose to annuitize, becareful. If you choose the lifetime income option, and you can hit by a car the next day and die, your money now belongs to the insurance company, your beneficiaries get squat.
7) Conversely, if you haven’t annuitized, you have a death benefit that’s probably the greater of your account value or the principal invested going to your beneficiaries. Say the market tanks again and you croak, your beneficiaries get your principal, and haven’t lost anything. Show me a mutual fund or stock that will guarantee that.

There are many ups and downs with annuities. It is neither a miracle product or the bane that some posters make them out to be. Like with everything else, CDs, mutual funds, stocks, bonds, how suitable it is depends on your unique situation which I’m unqualified to advise you on. I can only tell you not to make a quick decision and also look at other insurance carriers such as John Hancock, Lincoln, Jackson National, Pacific Life, etc. They may also have VAs that are more suitable to you and may or may not have better features and guarantees. If your advisor isn’t familiar with these companies, get another opinion. You don’t want a saleman only knowing one product. An independent advisor should be able to give you many options, and not hawk one product. If he/she does, beware they may be in one company’s pocket and have too good of a relationship with the local wholeseller.

Do not take what I’ve just wrote as investment advice. 🙂 Talk to your professional, or many professionals and not get pressured to rushing things. Good luck.

[Mayer]

magsbag, let me clear up some confusion from previous posts:

1) A and C share VAs do not have the long CDSC (contingent deferred sales charge) schedule, surrender period, it is the B share. Bonus products which give you an upfront bonus will have longer surrender periods.
2) The guaranteed growth is great, but it is to the benefit base, not to your account value. They are two different things. DO NOT confuse the two, and understand the difference before proceeding any further. If you withdraw early, you’re getting the account value minus the surrender charge, not the benefit base.
3) I don’t know what your age is, but there is a cap on that guaranteed growth. Take that into consideration and your investment time horizon.
4) Your advisor may also be a CFP. Having the designation is great, but it can also mean squat IMO. There are a lot of regular Joe-6-Pack like Patrick from patrick.net who called the housing bust years ago, and research analysts with CFAs blind to the bubble. Henry Paulson had an awesome title but what did he do for you and your children?
5) Expenses are high, but remember that you have many subaccount options across many mutual fund families. However, also remember that with this rider and guarantee in place, the insurance company to hedge themselves will restrict your options as to not be too aggressive.
6) If you choose to annuitize, becareful. If you choose the lifetime income option, and you can hit by a car the next day and die, your money now belongs to the insurance company, your beneficiaries get squat.
7) Conversely, if you haven’t annuitized, you have a death benefit that’s probably the greater of your account value or the principal invested going to your beneficiaries. Say the market tanks again and you croak, your beneficiaries get your principal, and haven’t lost anything. Show me a mutual fund or stock that will guarantee that.

There are many ups and downs with annuities. It is neither a miracle product or the bane that some posters make them out to be. Like with everything else, CDs, mutual funds, stocks, bonds, how suitable it is depends on your unique situation which I’m unqualified to advise you on. I can only tell you not to make a quick decision and also look at other insurance carriers such as John Hancock, Lincoln, Jackson National, Pacific Life, etc. They may also have VAs that are more suitable to you and may or may not have better features and guarantees. If your advisor isn’t familiar with these companies, get another opinion. You don’t want a saleman only knowing one product. An independent advisor should be able to give you many options, and not hawk one product. If he/she does, beware they may be in one company’s pocket and have too good of a relationship with the local wholeseller.

Do not take what I’ve just wrote as investment advice. 🙂 Talk to your professional, or many professionals and not get pressured to rushing things. Good luck.

[Mayer]

Also, our Professor Piggington, Rich is an advisor I believe. He probably won’t solicit you over the Internet due to compliance reasons and his Compliance Department watching, but that doesn’t mean you can’t reach out to him for a second opinion. 🙂

[Mayer]

Also, our Professor Piggington, Rich is an advisor I believe. He probably won’t solicit you over the Internet due to compliance reasons and his Compliance Department watching, but that doesn’t mean you can’t reach out to him for a second opinion. 🙂

[Mayer]

Also, our Professor Piggington, Rich is an advisor I believe. He probably won’t solicit you over the Internet due to compliance reasons and his Compliance Department watching, but that doesn’t mean you can’t reach out to him for a second opinion. 🙂

[Mayer]

Also, our Professor Piggington, Rich is an advisor I believe. He probably won’t solicit you over the Internet due to compliance reasons and his Compliance Department watching, but that doesn’t mean you can’t reach out to him for a second opinion. 🙂

[Mayer]

Also, our Professor Piggington, Rich is an advisor I believe. He probably won’t solicit you over the Internet due to compliance reasons and his Compliance Department watching, but that doesn’t mean you can’t reach out to him for a second opinion. 🙂

[LAAFTERHOURS]

Lincoln just lost their entire C level staff last year, as they migrated to Sunlife (I think). Not sure that’s anything big but always something to keep in mind.

Heard SunAmerica funds havent done the best over the past few years either.

[LAAFTERHOURS]

Lincoln just lost their entire C level staff last year, as they migrated to Sunlife (I think). Not sure that’s anything big but always something to keep in mind.

Heard SunAmerica funds havent done the best over the past few years either.

[LAAFTERHOURS]

Lincoln just lost their entire C level staff last year, as they migrated to Sunlife (I think). Not sure that’s anything big but always something to keep in mind.

Heard SunAmerica funds havent done the best over the past few years either.

[LAAFTERHOURS]

Lincoln just lost their entire C level staff last year, as they migrated to Sunlife (I think). Not sure that’s anything big but always something to keep in mind.

Heard SunAmerica funds havent done the best over the past few years either.

[Author]

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