Thread 60824218

Friend was shilling annuities through I think an insurance company. Was saying 9% gains every year and when you decide to retire the annuity will keep paying out even if you run out of the money. What kinda shit is this? I don't know anything about annuities but this shit sounds weird.

>>60824218 (OP)
your mother is an annuity, I buy her at 50 and she sucks the cum from my cock until completion

>>60824218 (OP)
annuities are far worse than just investing the money normally in a U.S. stock index

>>60824218 (OP)
and you earn an assload of commission by selling them (another reason not to buy), so your friend has every incentive in the world to exaggerate the positives.

>>60824218 (OP)
It’s a completely legal investment scheme with Ponzi adjacent characteristics.. not a Ponzi scheme

>>60824218 (OP)
I'm not licensed (trying to get my job to pay for it) but if he's saying 9% he's probably talking about a market-rate annuity. Fuck that shit don't buy it. If you're ever going to think about an annuity just go for a fixed rate annuity.
The most I know is market rate depends on the stock market doing good to get you any of the good returns, if it doesn't do good in a given year you don't get dick. Fixed rate is like a CD where you lock in a given rate, then after 5 years or whatever you picked they release the money you put in but you can get a locked in percentage back if you don't touch it.

Annuities are only good if you just retired with a 401k and you don't know what the fuck to do besides pay your house off. Frankly I think it's just meant to catch boomers who are still mad CD's don't give 15% like they did back in the 70's so I say don't do it.