Susan from Mandeville asks:
The market ups and downs are freaking me out. Is there something not as risky that will provide market competitive returns?
W. Mike Stewart AIF, RFC says:
Unfortunately, no there is not. Some financial services’ reps would tell you there is and sell you an annuity. The story is told to sound as though you cannot ever lose money while experiencing some of the market upside. The problem with these products is that they are written by very sharp actuaries (people who crunch numbers) to favor the insurance company and not you. There are “gotchas” throughout the fine print, usually a decade of surrender charges and....