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Any financial guru's here?
#1
Any financial guru's here?
I have annuities, and someone just told me that if I have "fixed annuities" I should be fine no matter what the market does. But, they also said if I have "indexed" or "variable" annuities, then I am more at risk. I honestly do not know what I have, and am going to call my bank on Monday to find out.

I can say though in laypersons observations, in my entire life my late mother saved throughout her life, through the slowdown in the 70s, the one day crash in the 80s, the dot com bubble in the 90s and Bush's great recession in the 2000s. I want to be able to live off of what she left me until I am eligible for social security so I can stretch it out, or I should say, I am trying to budget to stretch it out. 

I can say this, I will never do something stupid, in any case, like use bullshit casino websites like E-Fraud, which is nothing more than a casino. I don't know much about finance, but I do know most of Wall Street investors are already multi millionaires or billionaires. I also know, that a portfolio of anything is supposed to be "diversified" so in case one aspect of it goes down in value, the other investments can mitigate a downturn. 

Point is, when I call the bank on Monday, I just want to know they aren't going to snow me just to protect their stock market numbers just to keep me as a customer. 

I am not rich, with what my mother gave me, I do have to stick to a budget each month so I can stay retired.
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#2
RE: Any financial guru's here?
I would suggest that after you find out from the bank exactly what you have, take that information to a financial advisor. Not someone at the bank. The bank makes its money by using your money till you withdraw it so it's in their best interest to tell you to leave it with them

You should be able to Google financial advisors in your area and look at their reviews. It may cost you a few bucks but it could be well-spent to have the right guidance with making what you have stretch and also discussing any tax ramifications in what you do with what you have.

Also, go on the Social Security site to see what your benefits will be and at what age - it's probably a lot less than you think. Even having decades at a well-paying job doesn't mean you can live decently on SS benefits alone.
 “Two things are infinite: the universe and human stupidity; and I’m not sure about the universe.” ~Albert Einstein                                                 
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#3
RE: Any financial guru's here?
Initial consultation: $99.99
Set up fee: $29.99
Internet dialogue:. $34.99
Admin fee: $19.99
ABBA fan fee: $12999.99
--------------------------------------------
Total due: $13184.95

Cash, money order, or certified check only.
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#4
RE: Any financial guru's here?
(March 7, 2020 at 12:53 pm)arewethereyet Wrote: I would suggest that after you find out from the bank exactly what you have, take that information to a financial advisor.  Not someone at the bank.  The bank makes its money by using your money till you withdraw it so it's in their best interest to tell you to leave it with them

You should be able to Google financial advisors in your area and look at their reviews.  It may cost you a few bucks but it could be well-spent to have the right guidance with making what you have stretch and also discussing any tax ramifications in what you do with what you have.

Also, go on the Social Security site to see what your benefits will be and at what age - it's probably a lot less than you think.  Even having decades at a well-paying job doesn't mean you can live decently on SS benefits alone.

Good advice, and I agree. My mom had the well paying middle class job, not me. I struggled my entire life with minimum wage jobs. I know my SS won't be close to what she got. But trust me, when you go through your life poor, you learn to live off of it. My mom bailed me out, sure. But she never would let me take advantage of her, or drain her. 

I figure if I can stretch this out to SS, I can make SS work. 

My only worry is the GOP who wants to fuck everyone over on SS, not just me.

I am slightly worried sure. But I do know this. I don't give a fuck what class you get old in, middle, rich or poor, nobody should have to work, if they don't want to, from cradle to grave. I don't give a fuck if you spent your life working as a janitor, or fry cook, or garbage collector. If you do a honest job, for 20-30 years, you should be able to retire with dignity.

I am lucky. I have a buffer, although I don't know how long it will last. But if we leave it to billionaires, anyone not filthy rich, are scum for not moving up.
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#5
RE: Any financial guru's here?
Invest it in Borudian Holdings, Ltd. I can guarantee you a 25% return of your money.

Boru
‘Let me never fall into the vulgar mistake of dreaming that I am persecuted whenever I am contradicted.’ Ralph Waldo Emerson
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#6
RE: Any financial guru's here?
(March 7, 2020 at 1:24 pm)BrianSoddingBoru4 Wrote: Invest it in Borudian Holdings, Ltd. I can guarantee you a 25% return of your money.

Boru

I was born at night, just not last night.

He he, in all seriousness, there are lots of scams I have seen over the years, but one that I am aware of, is when a scammer offers you over 10% return. I knew this back in the 80s with the movie Die Hard, where the bad guy said something about the bonds, "We will be sitting on the beach earning 20%".

12% is stretching it in most cases. But any good SEC agent will tell you, anything above that is a scam.

Hey Boru, would you be willing to invest in Agnetha ABBA condoms? I can promise 30% return. Oh now you question me.

(March 7, 2020 at 1:08 pm)no one Wrote: Initial consultation: $99.99
Set up fee:                $29.99
Internet dialogue:.  $34.99
Admin fee:               $19.99
ABBA fan fee:   $12999.99
--------------------------------------------
Total due:          $13184.95

Cash, money order, or certified check only.

Fuck you smartass!

I LOVE ABBA, THAT IS MY STORY, AND I AM STICKING TO IT!
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#7
RE: Any financial guru's here?
(March 7, 2020 at 1:21 pm)Brian37 Wrote:
(March 7, 2020 at 12:53 pm)arewethereyet Wrote: I would suggest that after you find out from the bank exactly what you have, take that information to a financial advisor.  Not someone at the bank.  The bank makes its money by using your money till you withdraw it so it's in their best interest to tell you to leave it with them

You should be able to Google financial advisors in your area and look at their reviews.  It may cost you a few bucks but it could be well-spent to have the right guidance with making what you have stretch and also discussing any tax ramifications in what you do with what you have.

Also, go on the Social Security site to see what your benefits will be and at what age - it's probably a lot less than you think.  Even having decades at a well-paying job doesn't mean you can live decently on SS benefits alone.

Good advice, and I agree. My mom had the well paying middle class job, not me. I struggled my entire life with minimum wage jobs. I know my SS won't be close to what she got. But trust me, when you go through your life poor, you learn to live off of it. My mom bailed me out, sure. But she never would let me take advantage of her, or drain her. 

I figure if I can stretch this out to SS, I can make SS work. 

My only worry is the GOP who wants to fuck everyone over on SS, not just me.

I am slightly worried sure. But I do know this. I don't give a fuck what class you get old in, middle, rich or poor, nobody should have to work, if they don't want to, from cradle to grave. I don't give a fuck if you spent your life working as a janitor, or fry cook, or garbage collector. If you do a honest job, for 20-30 years, you should be able to retire with dignity.

I am lucky. I have a buffer, although I don't know how long it will last. But if we leave it to billionaires, anyone not filthy rich, are scum for not moving up.
I decided to draw SS at the earliest age.  But I can also earn a certain amount and not lose any of it.  With health issues and the threat of SS going away completely it's worth it for me.  Now I am gone 5 hours a day (including the drive) instead of 11-13 hours a day and make the same amount of $.  I have been poor - I can stretch a buck but have also learned over the years that I simply need less (a lot of my old needs were really wants) and shopping has never been a hobby for me.

Your finances are really worth professional advice.
 “Two things are infinite: the universe and human stupidity; and I’m not sure about the universe.” ~Albert Einstein                                                 
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#8
RE: Any financial guru's here?
(March 7, 2020 at 1:37 pm)arewethereyet Wrote:
(March 7, 2020 at 1:21 pm)Brian37 Wrote: Good advice, and I agree. My mom had the well paying middle class job, not me. I struggled my entire life with minimum wage jobs. I know my SS won't be close to what she got. But trust me, when you go through your life poor, you learn to live off of it. My mom bailed me out, sure. But she never would let me take advantage of her, or drain her. 

I figure if I can stretch this out to SS, I can make SS work. 

My only worry is the GOP who wants to fuck everyone over on SS, not just me.

I am slightly worried sure. But I do know this. I don't give a fuck what class you get old in, middle, rich or poor, nobody should have to work, if they don't want to, from cradle to grave. I don't give a fuck if you spent your life working as a janitor, or fry cook, or garbage collector. If you do a honest job, for 20-30 years, you should be able to retire with dignity.

I am lucky. I have a buffer, although I don't know how long it will last. But if we leave it to billionaires, anyone not filthy rich, are scum for not moving up.
I decided to draw SS at the earliest age.  But I can also earn a certain amount and not lose any of it.  With health issues and the threat of SS going away completely it's worth it for me.  Now I am gone 5 hours a day (including the drive) instead of 11-13 hours a day and make the same amount of $.  I have been poor - I can stretch a buck but have also learned over the years that I simply need less (a lot of my old needs were really wants) and shopping has never been a hobby for me.

Your finances are really worth professional advice.

For someone who found me Nina videos on multiple occasions, don't make me like you. 

I agree. but I do have to admit, my late mother had a far better crap detector than I have. She constantly worried about me to her death about others taking advantage of me. One thing I don't do to this day is anything financial online. I do it in person or over the phone calling in, not responding to a call. I never do anything financially onliine.
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#9
RE: Any financial guru's here?
(March 7, 2020 at 1:29 pm)Brian37 Wrote:
(March 7, 2020 at 1:24 pm)BrianSoddingBoru4 Wrote: Invest it in Borudian Holdings, Ltd. I can guarantee you a 25% return of your money.

Boru

I was born at night, just not last night.

He he, in all seriousness, there are lots of scams I have seen over the years, but one that I am aware of, is when a scammer offers you over 10% return. I knew this back in the 80s with the movie Die Hard, where the bad guy said something about the bonds, "We will be sitting on the beach earning 20%".

12% is stretching it in most cases. But any good SEC agent will tell you, anything above that is a scam.

Hey Boru, would you be willing to invest in Agnetha ABBA condoms? I can promise 30% return. Oh now you question me.


You just failed your reading comprehension test.

Boru
‘Let me never fall into the vulgar mistake of dreaming that I am persecuted whenever I am contradicted.’ Ralph Waldo Emerson
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#10
RE: Any financial guru's here?
Just look at reviews online. Make a few calls. Go to a couple consultations and decide who you think will work for you and in your best interest.
 “Two things are infinite: the universe and human stupidity; and I’m not sure about the universe.” ~Albert Einstein                                                 
Reply



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