Any financial guru's here?

[LastPoet]

But ‘I do know it gets under your cruel’ makes no sense. Not even for Brian.

Boru

I think you are right. I suppose he sleeps well while others do work for him. Oh well, there is nothing I can do to change the world, I reckon.

[Alex K]

Invest it in Borudian Holdings, Ltd. I can guarantee you a 25% return of your money.

Boru

It speaks to your wisdom Brian37 that you refuse to do business with this scoundrel

I on the other hand offer you a decent, dare I say magnificient 28%, and you should accept no lesser deal.

[BrianSoddingBoru4]

Invest it in Borudian Holdings, Ltd. I can guarantee you a 25% return of your money.

Boru

It speaks to your wisdom Brian37 that you refuse to do business with this scoundrel

I on the other hand offer you a decent, dare I say magnificient 28%, and you should accept no lesser deal.

Bidding war, eh? 30%.

Boru

[Abaddon_ire]

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.

Too general. Your step one is correct. First, find out what you DO have. Then the games may commence.

Outside of that, the general wisdom is a 50/50 split between fixed and variable. This, of course, is modulated by one's personal circumstance and the nature and age of the annuities you do have, their size and your ability to further invest, and indeed the nature and age of yourself and your post retirement expectations. Among a whole ton of other variables.

Frankly, nobody is going to wheel out advice on what you should do without better information. 

For example. If they are old annuities and fixed, then you are probably OK. If relatively new and fixed you are toast. And so on. Too many variables, not enough data.


By the way, I am not asking that you reveal all of your finances. I am pointing out that there is insufficient data to call it. You know this, since you are intending to find out. If and when you do, this will add data to the equation. 

Bear in mind that I am not criticising you. Working this stuff out is not the easiest deal in the world. It is tricksy magic quite often.

[onlinebiker]

I can't speak about others, but I would feel ashamed for living by my mothers money, it's the only thing that springs to mind in this... talk. but hey, none of my business and so its my right to refuse to help ya, fund boy.

I don't see anything wrong with inherited wealth. However - a worthless slacker is still a worthless slacker - even if they arrive in a Rolls Royce.

[Brian37]

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.

I think many can remember whe Blockbuster Video existed. I was the guy who walked through the video store for hours wondering if I would score a good movie or rent a lemon.

This is what I am feeling right now.

[BrianSoddingBoru4]

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.

I think many can remember whe Blockbuster Video existed. I was the guy who walked through the video store for hours wondering if I would score a good movie or rent a lemon.

This is what I am feeling right now.

I’m sensing that indecision may or may not be your problem. 

But seriously, arewethereyet gave you sound advice - do some web searching, find a few reliable companies in your area, then schedule some consultations.

Boru

[Brian37]

I think many can remember whe Blockbuster Video existed. I was the guy who walked through the video store for hours wondering if I would score a good movie or rent a lemon.

This is what I am feeling right now.

I’m sensing that indecision may or may not be your problem. 

But seriously, arewethereyet gave you sound advice - do some web searching, find a few reliable companies in your area, then schedule some consultations.

Boru

Wait, you cant do that. You are my arch nemesis.

[BrianSoddingBoru4]

I’m sensing that indecision may or may not be your problem. 

But seriously, arewethereyet gave you sound advice - do some web searching, find a few reliable companies in your area, then schedule some consultations.

Boru

Wait, you cant do that. You are my arch nemesis.

*puzzled frown* Not me. All I’ve ever done is point out some mistakes you’ve made in an effort to help you be a better person.

Boru

[Brian37]

Wait, you cant do that. You are my arch nemesis.

*puzzled frown* Not me. All I’ve ever done is point out some mistakes you’ve made in an effort to help you be a better person.

Boru

You got me Obi Wan. Or are you the master in "Kung Fu" and I am the "grasshopper".