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"Safe Money" Radio" Show pumping what else bu

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ETFs_R_Best
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"Safe Money" Radio" Show pumping what else bu  Reply with quote  

I heard this "Safe Money" Radio" Show on KABC this weekend. It's basically an infomercial disguised as a regular radio show. As I listened it was odd that the guy never really said what investment products his company sells. What was he hiding? He did say some things that I knew were "code" for annuities. I asked for information anyway. Sure enough the guy was pumping none other than those dreaded annuities. I can't believe that brokers are still trying to dump these awful investments on people. Nothing like unnecessarily locking your money in "prison" until age 59 1/2 in an investment that doesn't do better than unmanaged index funds like ETF's. In their Safe Money "kit" there was nothing but happy talk about annuities and no mentioning (that I could find) about the higher ordinary income taxes that you pay with annuity gains! In fact they had some chart that compared the S&P 500 with indexed annuities, but it CONVENIENTLY omitted the effects of taxation on returns. Also no mention of the fact that loved ones who inherit your annuity have NO stepped up cost basis. Nothing like screwing over your loved ones. Just a big sales pitch.

This radio host guy with the infomercial actually has the gall to use this statement to evidently scare people into buying annuities with this statement:
"Today's seniors and baby boomers are "losing their shorts" to: 1) A volatile stock market, 2) Federal, State and local governments that are continually increasing taxes. 3) Legal fees, court costs and taxes incurred when assets are transferred to heirs"
All totally deceptive. Even if you had terrible timing and invested in the DOW industrial averages at its HIGHEST point in 2000, you are in plus territory at this point in time. Nobody has "lost their shorts". And when an annuity is cashed in you pay the MUCH higher "ordinary income" tax rate, making annuities a net loss compared to other investments like ETF's according to the studies. And finally annuities have NO stepped up tax basis for heirs. Heirs pay capital gains taxes on the annuity that they inherit. Nice of this radio host to OMIT all of this critical information. Just get a will. Simple.

So I think this broker who hosts this radio show is obviously just shamelessly trying to earn his big commission by saying nothing but happy talk about annuities.
http://www.kabc.com/showdj.asp?DJID=60348
Post Fri May 18, 2012 4:04 am
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coaster
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mod's note  Reply with quote  

it served no purpose to divide this into two posts, so I combined them for you

~Tim~
Post Mon May 21, 2012 4:37 am
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lutherbeau
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There are radio stations that specialize in "safe money" issues and annuities fall into that category. You can develop a 30 minute long radio seminar that will be broadcast to people who are listening to the station.
Post Wed Nov 07, 2012 8:38 am
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William Dixon
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I have also listened to this show but I think you are saying undeniably right about dissertations services here. The guy of radio show just wanted to get his own commission that is why he said all these things about pensions. On ground reality, the information is totally fake.
Post Thu Feb 22, 2018 4:33 pm
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