What is up with Wallstreet?
Everyone knows the stock market has been abysmal since last September.
It looks like this will continue for quite some time. Oil market in turmoil, housing costs worldwide in a tail spin. Most economists say housing won’t start a serious recovery until September 2010. Food prices in orbit, all consumables skyrocketing, prices largely driven by high fuel costs, no end in sight.
With World Economic indicators just as grim, why should we expect any sudden longterm upturn in the stock market?
No matter who gets elected the economic woes we are experiencing are tied to the world economy and debt. No new administration will be able to make a significant impact on this for 2 years or more.
Wall Street is feeding us a load of BS. If you own Mutual funds (80% of Americans do through 401k’s 403b’s and IRA’s) you keep hearing “Don’t worry, it will come back.” “Now is the best time to buy, while the market is down.”
“Don’t think of it as a loss. It isn’t a loss unless you get out while it’s down.”
Sound familiar? Didn’t we hear this load of BS in 2000-2003? From late 1999 through 2007 we saw virtually no measurable gain for the average investor. The losses were finally recovered by late 2007. Now we are back in it again. 40% plus losses are common in the last year. If the economists are right, you will continue to suffer large losses for at least the next 2 years.
Who can afford 11 years of no gain or worse, large losses? How can I retire or provide for my children’s education if my investments don’t even come near inflation? Why are the Wall Street people still charging me fees when they continue to lose my money?
Have you ever wondered why they never seem to come up with answers?
They are making billions of dollars at our expense and making no effort to help us.
They (Mutual Fund Companies and dealers) will never be on your side. They only get paid to add more money to the coffers; not to manage the money that is in there.We have been deceived and we bought it hook, line and sinker.
When other options to earn a fair return without the risk and volatility if the market are introduced they tell lies and deceive us to keep us from doing something that well may be a much better option for us.
Fixed Index Annuities have been around for more than a decade but few have ever heard of them.
You remember your grandparents Annuities that were safe from loss but had very small fixed earnings? Not a good option if you need to grow your money more aggressively. Or how about the Variable Annuity that was nothing more than Mutual funds wrapped in an Annuity coupled with excessive fees and highly restrictive liquidation penalties. Those turned out not to be an answer either.
The creation of the Fixed Index Annuity has been a highly successful effort by annuity companies to address the shortcomings of Mutual Funds, stocks, bonds and fixed accounts.As well as addressing the restrictiveness of traditional Annuities.
Fixed Index Annuities enable you and I to invest in a vehicle that can produce market like earnings on the up side and eliminate loss on the downside. Many Fixed Index Annuities have features like protection against probate costs, the ability of the beneficiary to inherit it without creating an immediate taxable event. Many pay large incentive bonuses (up to 12.5%)as well as a guaranteed minimum earning while the market is down.
With all that going for it why are we not hearing more about them? Simple. The mutual fund industry has lost so much business in the last 5 years to Fixed Index Annuities (trillions of dollars) that they have made multiple attempts to block their availability or attempts to prevent investors from qualified rollovers or even making false claims about them to discourage the investor.
So what can we do? If you ask someone in the mutual fund industry they will not speak favorably, plus they make their living selling mutual funds and not Fixed Index Annuities.
Ask a qualified Annuity agent.
What ever product you use,there are now hundreds of them available. Protect what you have worked so hard to save and grow it with confidence and a real sense of peace.
Don’t wait! Can you afford to lose more? You can learn more at the website below.
Doug’s Money Matters is a section of the VAJoe Blog to ask for quick financial tips and advice from an expert with more than 20 years experience in counseling families to live without debt and to reach there financial potential. Please leave comments on this Blog. You can learn more about the Money Matters advisor at his website. The posts and comments by JoeMoneyMatters reflect his two decades of financial counseling experience. VAJoe.com does not endorse any financial strategies, but offers this blog as a service to its site members for discussion.
http://dkirk@forwardfinancialgroup.com
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