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Spicuzza

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Reply with quote  #1 

Welcome to the Estate Planning & Fixed Annuity Forum.
 
This forum is for the discussion of Estate Planning and Fixed Annuities.


 
NOT "Variable" Annuities. "Variable" Annuities are a  stock broker-securities licensed-wheeler dealer SALESMAN  product which is nothing more than a bloated pig with lip stick and are  - per se' -  unsuitable for Seniors over the age of 60.

Click HERE to learn what the  U. S. Securities and Exchange Commission has to say about these products.
 
Variable Annuities VIOLATE the fundamental and foundational element of "Safety of Principal" inherent in ALL annuities EXCEPT Variable Annuities.
 

Click THIS LINK to read what the FINRA has to say about Variable Annuities and the securities licensed broker wheeler dealer SALESMEN who SELL them with little or no Life Insurance or Annuity experience or training.

 

Quote:

The marketing efforts used by some variable annuity sellers deserve scrutiny - especially when seniors are the targeted investors. Sales pitches for these products might attempt to scare or confuse investors.

 

Quote:
As its name implies, a variable annuity's rate of return is not stable, but varies with the stock, bond, and money market sub-accounts that you choose as investment options. There is no guarantee that you will earn any return on your investment and there is a risk that you will lose money.

 

Quote:

The variety of features offered by variable annuity products can be confusing. For this reason, it can be difficult for investors to understand what's being recommended for them to buy - especially when facing a hard-charging salesperson.

 

Quote:

7. Variable Annuities within IRAs 

Investing in a variable annuity within a tax-deferred account, such as an individual retirement account (IRA) may not be a good idea. Since IRAs are already tax-advantaged, a variable annuity will provide no additional tax savings. It will, however, increase the expense of the IRA, while generating fees and commissions for the broker or salesperson.

 




Fixed Annuities more closely resemble bank CDs and Money Market accounts with respect to
Safety of Principal and Interest.
 
Fixed Annuities come in only two forms. 
Traditional Fixed Annuity or Fixed Indexed Annuity.
 
Estate Planning is the process by which an individual or family arranges the transfer of assets in anticipation of death. An estate plan aims to preserve the maximum amount of wealth possible for the intended beneficiaries and flexibility for the individual prior to death.
 
I'm looking forward to answering any client questions while having
no non sense - straight forward - open and honest discussions.
 
I'm especially excited about responding to Insurance Agents condemning other Insurance Agents; attorneys; bankers; brokers; accountants and news media regarding any of their absurd objections and reports regarding Traditional Fixed Annuities or Fixed Indexed Annuities.
 
Locked threads are because I'm trying to make a point regarding an annuity contract provision or I'm responding to biased articles by brokers, bankers, attorneys and news media who don't quite tell the other side of the story.
 
Feel free to start any thread about anything you read here.

I'll be happy to respond.

Spicuzza

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Fixed Annuity vs Variable Annuity
 
From August 1999 projected 8 years hypothetically to August 2007.
 
I have a client right now who put $125,320 into one of these "bloated pigs with lip stick" VARIABLE annuity, it grew to $149,519  and then imploded and she LOST $59,917 of her IRA Life Savings when the market collapsed over the past few years. She has only $89,602. left.
 
At her current age 67 she will NEVER make up her losses.
 
As time permits today I will post what type of impossible market returns she would have to receive over the years, (year by year) to equal what a Traditional FIXED annuity @ 5% would have generated.
 
The math is is very illuminating. 
 
And how about all those BLOATED FEES charged each and every year totaling 1.64% per year; PLUS a $30 per year "maintenance fee;" PLUS 1.40% for life insurance per year; PLUS 0.25% per year for the Investment Protection RIDER that was added after the client lost almost $60,000!
 
Those annual fees total 3.29% of the Account Value each AND every year.

Those fees are charged every year whether the contract loses money or not. Did the, stock broker, securities licensed, wheeler dealer life insurance agent SALESMAN, clearly communicate that with her until she consciously understood how the contract worked?


 
Below is the ACTUAL Policy Information from the Client by which the above illustration was based.
 



 












Spicuzza

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Reply with quote  #3 

Click THIS LINK to read what the NASD has to say about Variable Annuities and the securities licensed broker wheeler dealer SALESMEN who SELL them with little or no Life Insurance or Annuity experience or training.

 

Quote:

The marketing efforts used by some variable annuity sellers deserve scrutiny - especially when seniors are the targeted investors. Sales pitches for these products might attempt to scare or confuse investors.

 

Quote:
As its name implies, a variable annuity's rate of return is not stable, but varies with the stock, bond, and money market subaccounts that you choose as investment options. There is no guarantee that you will earn any return on your investment and there is a risk that you will lose money.

 

Quote:

The variety of features offered by variable annuity products can be confusing. For this reason, it can be difficult for investors to understand what's being recommended for them to buy - especially when facing a hard-charging salesperson.

 

Quote:

7. Variable Annuities within IRAs  

Investing in a variable annuity within a tax-deferred account, such as an individual retirement account (IRA) may not be a good idea. Since IRAs are already tax-advantaged, a variable annuity will provide no additional tax savings. It will, however, increase the expense of the IRA, while generating fees and commissions for the broker or salesperson.

 

 

Spicuzza

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Reply with quote  #4 

James K. Blankenship, CFP of New Berlin, IL claims:

Quote:
"Not all of us are insurance agents. Some of us are fee-only financial planners."

 
Hmmm, sounds like an Impostor.
The word "Impostor" means:
One who engages in deception under an assumed name or identity.
Like having multiple Identities on an Internet Message Board and engaging and replying to yourself as - IF - you are another poster.
 
There are many impressive "titles" in the Financial Services Industry.

The one title they ALL share is: Life Insurance Agent.

When you buy an Annuity, upon whatever form, you are buying your Annuity from a Life Insurance Agent. ONLY a Life Insurance Agent can sell you an Annuity.
 
It’s a third degree FELONY in Florida to engage in the solicitation and procurement of Annuities without being licensed by the Florida Department of Financial Services.

Click on THIS LINK from Kiplinger Estate Planning Forum. The thread is titled, "Annuities"

I made this comment on that thread:

Quote:
Stockwell and every other person who reads this thread needs to understand the "Pros" you speak of on this board are LIFE INSURANCE AGENTS. Every single one of them.

An Impostor by the name of James K. Blankenship, CFP of New Berlin, IL wrote the following on Page 3, Post #35:

Quote:
Speak for yourself. Not all of us are insurance agents. Some of us are fee-only financial planners.

Really?

Not according to the Illinois Department of Financial & Professional Regulation
Division of Insurance

Spicuzza

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Reply with quote  #5 
CFP - Certified Fraudulent Planners
 
Click Check out your Florida CFP.com to see if your Certified Fraudulent Planner is ACTUALLY just a Life Insurance Agent charging you a fee PLUS earning a BIG commission!
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Gary D. Spicuzza,
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The Trust Group
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