Currently 401 K has 500K. Back information..home worth 1.2M, owe 100K (not my forever home) age 59 plan to semi retire and continue to work. Self employed with average income between 180-280K depending on the year. Very little overhead and can continue to invest likely half of income moving forward. Single
My financial advisory has suggested I move a portion into a bufferstock annuity (not a B-share) as a way of insuring a portion of that retirement fund with the possibility of future volatility (election, etc) He charges .8 basis points ($800 yearly) Plan offers a one year or 6 year option..feeling a little nervous about the market. All is good now, but worry that could change quickly. He has not approached me in the past with product and I asked about safeguarding therefore this was his solution.
Has anyone rolled money out of the 401k into this type of annuity for safety or is this an unnecessary added expense?
My financial advisory has suggested I move a portion into a bufferstock annuity (not a B-share) as a way of insuring a portion of that retirement fund with the possibility of future volatility (election, etc) He charges .8 basis points ($800 yearly) Plan offers a one year or 6 year option..feeling a little nervous about the market. All is good now, but worry that could change quickly. He has not approached me in the past with product and I asked about safeguarding therefore this was his solution.
Has anyone rolled money out of the 401k into this type of annuity for safety or is this an unnecessary added expense?
Statistics: Posted by Ripleyvondruessen17 — Fri Aug 30, 2024 12:54 pm — Replies 4 — Views 183