Fees

Understanding the Basics of Annuity Fees and Expenses

A basic checklist from a top financial planner is worth a look if you are trying to understand the potential fees and expenses associated with annuities: The author considers the following: Annual contract charges Mortality and expenses charge (M&E Fee) Asset management fees Surrender charge Source: CNBC Full Story

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Why Is Teresa Ghilarducci Considered "The Most Dangerous Woman in America"

Teresa Ghilarducci is a 51 year old economist who directs the Schwartz Center for Economic Policy Analysis at the New School in New York.

Why was Ghilarducci--who sure looks like a nice person in her picture--labeled the most dangerous woman in America in a recent US News & World Report column?

The short answer is that she thinks...

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Consumers Should Think Twice about Replacing an Annuity

A very balanced article in the Chicago Tribune discusses what consumers should consider when they are concerned about credit risk or the financial health of their insurance company. Dumping an existing life or annuity policy when reading headlines about the health of an insurer may not be the wisest idea. At a minimum, consumers should seek a couple of informed opinions before replacing an existing policy. There are fees and tax consequences that may come into play. In addition, there are...

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Many Rules and Pitfalls with Early Withdrawals from 401k and IRA

The financial crisis has taken a heavy toll on the personal finances of most people. A natural reaction is to consider withdrawing funds from a tax advantaged saving plan such as a 401k or IRA. The reality, though, is that funds from such sources can be extraordinarily expensive when all of the penalty fees and tax implications are taken into account. The rules are complex and generally depend on a person's age and the type of plan involved. Some high-level points to consider: The federal...

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Financial Advisor Views on Annuities Appear Tightly Related to Business Models

A recent study from Cerulli Associates indicates that registered investment advisors (RIA) are more than hesitant to recommend annuities to their clients.

The report surveys and compares the views of various forms of financial advisors. Not surprisingly, financial advisors’ product views are tightly related to the financial incentives that support their business models. Consider, for example, the following: