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Equity Index Annuities—Read this first May 30, 2011

Posted by forwardfinancialplanning1 in Variable Annuities.
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Equity Index Annuities are promoted as a “have your cake and eat it too” investment.  Their sales hype claims that an investor can reap a substantial portion of the upside of the return of the stock market without being exposed to its volatility.  Of course,  the selling party usually doesn’t spend a lot of time emphasizing the healthy commissions they’ll receive, nor do they laud the multi-year surrender charges you’ll be exposed to with these financial instruments.

You can rest assured that the sales person will never call your attention to the following article that appeared in the April 2011 edition of Financial Planning magazine.  Check it out at http://www.financial-planning.com/fp_issues/2011_4/diy-annuity-2672150-1.html

Make sure you read it before being convinced that Equity Index Annuities are the greatest financial innovation ever created!