Sigarms
Super Member
Anyone invest in annuities?
I work with Northwestern Mutual on an old 401K from an old company and have a couple of whole life insurance plans. I like the guy I work with (always talk to him on the phone as he's two hours away from me).
We have some money tied up in CD's that will be maturing soon from the bank, as well as some "expendable" cash sitting in our savings account that really isn't generating any type of interest.
Needless to say, anything we "invest" isn't "do or die money" and we're figuring we'll be here at our home for the last 18 years until we figure out the game-plan with my wife's 76 year old mother.
Thing is, best rates I've seen on CD's from the bank is around 4%. Could do much better with a annuity.
We don't want to play the stock market with the assessable money we have as our 401K's haven't done as well the last couple of years, but consider it a sin to have money sitting in the bank where it's not generating any substantial income and would like something low to no risk as to losing the investment. We understand that until we both hit age 59, any interest generated from the annuity will be dinged an additional 10% for taxes.
I work with Northwestern Mutual on an old 401K from an old company and have a couple of whole life insurance plans. I like the guy I work with (always talk to him on the phone as he's two hours away from me).
We have some money tied up in CD's that will be maturing soon from the bank, as well as some "expendable" cash sitting in our savings account that really isn't generating any type of interest.
Needless to say, anything we "invest" isn't "do or die money" and we're figuring we'll be here at our home for the last 18 years until we figure out the game-plan with my wife's 76 year old mother.
Thing is, best rates I've seen on CD's from the bank is around 4%. Could do much better with a annuity.
We don't want to play the stock market with the assessable money we have as our 401K's haven't done as well the last couple of years, but consider it a sin to have money sitting in the bank where it's not generating any substantial income and would like something low to no risk as to losing the investment. We understand that until we both hit age 59, any interest generated from the annuity will be dinged an additional 10% for taxes.