My mother is 71. Her financial planner has moved a huge portion of her net worth into Annuities - 70% of her entire portfolio. Planner claims it pays income, never goes down, and in fact if she gets sick she can withdraw the funds with no penalties. For some reason he (the planner) split the money across 4-5 incremental investments into the same annuity plan. All of it sounds to good to be true. I tried to read the contract but its impossible to understand unless you are in finance - FURTHER making me suspect she may be getting in over her head. I cant understand the documents, but I think the fees are 1.25%.
Submitted March 01, 2019 at 02:02AM by wombtemperature https://ift.tt/2UdhYA7
