Variable Annuities Good Or Bad

A financial advisor that I take a deferred tax account and I ride on a variable annuity account. Is this good or bad.

The negative points are the high fees and taxes when you go out. And not increased tax base for the heirs. I do not know any good points.

Variable annuities are ideal for the financial advisor. The costs are higher on these products (for him) than anything else they sell.

There are many who are trying to make use of a variable annuity for an existing tax differed account (such as the IRA of 401K, 403B, etc.) illegal. As it is not illegal yet .... It is highly immoral.

Taking tax exempt or deferred funds and put them in a product that you have to pay high taxes ... because it is the deferred tax is ..... pay for something you already get for free.

Dump this clown!

If you are 70 years old, it might be a good idea. If you're not, get a new "financial adviser", as it tries to scam you. While annuities are useful and appropriate in some limited situations (eg when you have a lump sum of $ 200,000, you are 70 years and want an income until your death ...), the they are the best thing to earn huge commissions for the agent to sell ...