Question the Advisor who sold you an Annuity when rates were at 22 year lows
If someone is selling you an annuity today, they probably tried to sell you annuity yesterday.
Many people are asking me if now is the time to buy an annuity and lock in the highest rates in 22 years.
I would say it’s important to consider the source of this information.
Rates are the highest in 22 years, but so is inflation.
Growth and Income are both needed for an successful investment portfolio during these economic times.
If someone is selling you an annuity today, they probably tried to sell you annuity yesterday.
In fact, it’s likely the same financial salesperson was trying to sell you an annuity when rates were at 1 or 2%.
For some odd reason, the same product gets recommended under a completely different economic period.
The truth is, there is no limit to where interest rates could go.
Rates could go much higher from here.
There are no facts about the future.
Personally I believe its likely rates stay higher for longer.
For this reason, it could be premature to lock yourself into a certain rate today.
Don’t fall for the pie the sky promises of a financial salesman who always seems to find the perfect product just when you need it.
Being long term focused, optimistic, and opportunistic are the primary ways to invest over full market cycles.
Sometimes locking in guaranteed income does make sense.
But I would place a warning and say if you are looking into guaranteed income at higher rates, I would suggest getting a second opinion from someone with an outside perspective who wasn’t selling you the same product as before.
Final Word
Thank you for reading and I am grateful and humbled to be able to learn, grow, and invest alongside you at Tuttle Ventures.
Vision, Courage, and Patience leads to successful investing.
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Best,
Darin Tuttle, CFA
NOTE – This is not investment advice. Do your own due diligence. I make no representation, warranty or undertaking, express or implied, as to the accuracy, reliability, completeness, or reasonableness of the information contained in this report. Any assumptions, opinions and estimates expressed in this report constitute my judgment as of the date thereof and is subject to change without notice. Any projections contained in the report are based on a number of assumptions as to market conditions. There is no guarantee that projected outcomes will be achieved. Unless there is a signed Investment Management or Financial Planning Agreement by both parties, Tuttle Ventures is not acting as your financial advisor or in any fiduciary capacity.