Annuities: Are They For You

Professionals familiar with retirement income often suggest that buyers by wary of fees and charges attached to annuities before purchasing them.

According to the California Department of Corporations, this is what prospective buyers need to know:

1. In the event you need to withdraw your money prior to the annuity maturity, understand the surrender charges.

2. Know your acceptance of risk in order to properly judge whether fixed, variable, or indexed annuities fit into your retirement plan.

3. Annuities are not guaranteed by any government agency. Check the financial status of the company you are buying the annuity from.

4. Make sure your salesperson and the company are properly licensed and registered.

5. Understand annuity differences if you choose to cash in and purchase a different one.

6. Annuity commissions are sometimes very high. Find out how much your agent is profiting by the sale.

7. Make sure you understand what will happen to the proceeds of an annuity upon your death.

8. Comparison shop and discuss the option with your financial advisors.

For more about annuities, visit 50somethinginfo.com

Are Stockbrokers Making More Money Than Mr./Mrs. Average American?

You know all the money you lost in the stock market?

You're in good company. Except that many stockbrokers lost MORE money than the average investor, according to one reliable source who has seen thousands of income taxes.

We discuss diversification and risk with our brokers but they ignore their own mantra and assume lots more risk by buying and selling frequently.

The moral of the story: Practice what you preach.

To learn more about investing, visit 50somethinginfo.com.