Oh those Joker Brokers, they’ll just say anything to steer you away from safety won’t they?
Deep breath Charlie, go to your happy place, relaaaaaaaaax…..
Ok I think I’m ok to write now.
WHAT ARE THEY TALKING ABOUT?
Joker Brokers make more money than any of us in the industry because they put YOU in what has the HIGHEST fees and HIGHEST risk.
The average Mutual Fund has 2-4% fees that you are not even aware of, and this is ON TOP of what you pay your Joker Broker to gamble your money. Let’s get real for a minute.
If you have $500,000, and pay your average I-Don’t-Know-What-I’m-Doing-But-Can-Get-People-To-Say-Yes Joker Broker a 1% management fee you will pay $5,000 per year or $50,000 over a ten year period IF THEY DO NOT GROW YOUR ACCOUNT!
If they grow your account of course you will pay more. Then over the next ten years you pay the same $50,000 or more and you do that until you die.
Have you ever see an Annuity that pays a 10%-20% commission? I’ve been doing this for 12 years and have never seen one.
Most Annuities today pay a ONE TIME, UP FRONT, commission of 2.5% to 7%.
Ok, so your Joker Broker makes $50,000 every ten years to have you take all of the risk and your Annuity agent makes $12,500 to $35,000 one time, up front, to give you guaranteed not losses with no fees OR no losses with guaranteed income and a very low fee that YOUR HEIRS PAY.
The fact of the matter is that Annuities DO NOT pay high fees and this is another example of how Joker Broker MUST lie to you in order to get you to do what THEY want you to do.
Only one side of the table can have guaranteed income for life no matter what happens.
Either you get it or your Joker Broker gets it. If you let your Joker Broker convince you that the market makes 7-10% per year, and that somehow it’s safe to take a steady income stream from that portfolio, you just became an Annuity…..for your Broker.
Whether he works or not, on the golf course or in the spa, he makes money on you whether the market goes up or down and you carry ALL of the risk.
Now, if you BUY an Annuity, rather than becoming one for your Broker, what happens in this case? Now YOU have guaranteed income for life, no matter what happens, and your Advisor gets paid once up front and must keep looking for business.
Annuities are like cars, you don’t buy them because they are good investments…you buy them because they do something you VALUE. You buy cars, which are crappy investments, because you value getting around and having freedom.
You buy Annuities because you value either predictable, steady income or safe growth with no fees and no losses.
I hope this helps, just a little more, to remove the blindfold that the liars and cheats in the industry have purposefully placed over your eyes.
To your amazing retirement,
Author, Speaker, Podcast Host and Whistle-Blower
What you can look forward to in the next 2 weeks!
Annuity Myth #5: Annuity Companies May Go Out of Business and I’ll Lose My Money
Annuity Myth #6: Annuity Companies Will Keep All of My Money If/When I Die