1. Now that vasaver has shown you there are other fees what do you think about what your advisor "stated? vasaver showed you the commission you paid. Don't let the advisor say you don't pay the commission, the company does. That's lie #2.He states there are no other fees (other than capping gains).
but you also see on that chart there are surrender fees (percentages) you pay if you change your mind at any point during the 10 year period or take more than your allowable amount (5% free withdrawal only after the first year):
year 1: 12%,
year 2: 12%,
year 3: 11%,
year 4: 10%,
year 5: 9%,
year 6: 8%,
year 7: 7%,
year 8: 6%,
year 9: 4%,
year 10: 2%
2. Don't you think you should go back to the advisor and ask him why he told you something that isn't true?
3. Do you think you want to give this guy any more of your business?
4. At the very least this should be a lesson to not believe anything someone tells you and only believe you when you've seen it in writing for yourself.
This is not a financial advisor. He's an insurance salesman. Understand the difference. He's surely not a fiduciary, because this product is in his best interest, not yours.
by the way, one benefit of an annuity is tax deferral. But since these assets of yours are already tax deferred, you know you don't get any double tax deferral, right? So you paid a lot in fees for something you already had and didn't have to pay extra for.
Statistics: Posted by arcticpineapplecorp. — Wed Mar 20, 2024 8:30 pm — Replies 8 — Views 318