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Posted by Justin on March 28, 2008, 3:27 pm
V wrote on [Fri, 28 Mar 2008 14:13:26 -0500]:
>
>
> My wife has a broker acquaintance that wants her to invest her
> retirement fund (all of it) in a Pacific Life annuity. The annuity is
> supposed to double your money in 10 years or sooner. I noticed on the
> cover of the Pacific Life brochure that it states "may lose money"
There's not point in putting retirement funds in an annuity, as it's
already tax deferred.
> What sort of guarantee do these things have if the company goes belly
> up? With today's rocky financial climate how safe are these investment
> vehicles? BTW, I think my wife would have to pay $6600 in commissions
> on this deal.
Sounds like a risky ripoff to me
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