This topic contains 2 replies, has 2 voices, and was last updated by JOHN I. 4 years, 9 months ago.
February 28, 2013 at 5:15 pm #17641
My long term goals are a little shorter than many families here. My wife and I look just 30 or so years down the road (barring nano-miracles) when we will be 100 years old. We want to make our money last until then plus leave a little behind to care for whatever animals we might have. So as we have been watching the follies of current life, we have begun looking at Insurance company annuities as a way of creating ladders of income. The Insurance companies seem to have a lower failure rating than banks and stocks and they also seem to have higher reserve standards. Yes we will miss the highs of markets…and we will also miss the lows…and isn’t that what Beta is all about. Your thoughts and experiences on this would be appreciated.March 1, 2013 at 10:47 pm #27024
John, I’ve thought a bit along these lines, but more relevant to whole life. A suggestion: Be certain to purchase annuities from ONLY the strongest providers AND diversify your purchases acrosss 3 or more of the top 5. To find the strongest players in the annuity mkt, try http://www.weissratings.com. Hense IIApril 1, 2013 at 3:49 pm #18045
A reply to myself…maybe in today’s world even beta is a myth. My stock guy told me that insurance annuities are awful, that you give them all your money and they dribble it back to you a little at a time. I said that he was doing the same thing…he had all my money and sometimes he didn’t dribble it back at all. In fact as I looked around I came to the conclusion that I didn’t trust anyone or any institution. So I bought an 18k Rolex President bracelet for my wrist watch…and I have an offer out on another. Surely this isn’t as efficient as just buying a gold coin or two or three or four but I already have a good supply of those…so I decided to follow the investment style of India and China and buy gold that I actually can wear…and yes in a crunch I can break the 18k bracelet into its individual links and trade them barter style for some bread or bullets or maybe a night in a brothel. David Stockman is now the target of opportunity for the mainstream press…even Fox Business News is desperate not to be standing next to him. The end of days is near and all I can be thankful for is that the guest bathroom remodel is finally complete. Now I can sit on my throne and read back issues of the National Enquirer about OJ’s guilt or innocence…glancing now and then at my 18k Rolex on its Florentine engraved President’s bracelet. Hanging on the wall next to the toilet paper holder is my Glock .45. I keep a second one in the trunk of my 2007 VW Golf. My wife has a.38 in the night table by her bed. There is something secure about turning 70 and knowing the end of the world is nearer than it was yesterday.
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