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Posts Tagged ‘No Doubt’

Variable annuities are inherently one of the most confusing of all the annuities in the market place. There is no doubt about that in my mind. They have many pitfalls and risks and if you don’t understand them, you are likely to get involved with an annuity that has high fees and horrible performance as well.

Now, don’t get me wrong, there are people who have held their variable annuities throughout the good market years and have done quite well. I would venture to safely guess that they would have done better outside the same variable annuity. And it’s a pretty safe guess. Also, there have been people who have invested money in a variable only to die with market losses and to have their families become whole by benefiting from the death benefit. IT’S NOT ALL BAD. But it’s mostly far from good. I can comfortably say that variable annuities do have some benefits, however, there are only a very few specific times where they fit in a client’s portfolio.

So with that said, let me talk briefly about the living benefit…the 7% guarantee. Everyone who calls asks me is it too good to be true. IF YOU HAVE TO ASK IT PROBABLY IS. Think about it, when the market interest rates are 3% and 4%, do you think the insurance companies just want to be nice and offer you a 7% return on your money? Do you honestly thing they can afford to offer you a rate of return that is that much higher than the market? The answer is NOT A CHANCE. They don’t get to be the big bad insurance companies by giving away money. And they don’t get to be that profitable by not being prudent about giving away money.

There are strings attached to this benefit. You must understand what the risks are and fully be aware of what the insurance company is doing to give you this ’7% guaranteed return.’

And just be aware, things aren’t always as they seem. In particular, when you get an offer for one of these 7% guarantees, read the fine print. See it is what you have to do in order to be given your 7% guarantee at the end of 10 years. You’ll be surprised at what you have to do in order to get the guarantee. And you’ll also be surprised at how long it takes to get your ‘guaranteed’ money. And in the end, you’re going to find out that it is not what it seems.

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If anyone tells you that the job market had ironed out its troubles, they are kidding you for sure. We are still in the midst of one big recession and it is on a global front. But, if you are in school or college, this should not worry you, especially so if you are considering Key Bank student loans to pursue higher studies and get a good education.

You may ask why is there a need to take a student loan when the economic situation is so bad all over the world and more and more people are losing their jobs everyday. This situation has to be looked at from a different perspective altogether as far as your education and you taking a loan to further your education are concerned.

No doubt whatsoever that the job market is really bad. Everyday, ever since the onslaught of the recession in December 2007, there has been constant news of people being laid off from their jobs. But, you need to understand that this situation is not going to remain the way it is forever.

It is a temporary phase and as rain and storm clouds do not stay where they are forever, same is the case here. This bad phase will blow away and then the job situation will brighten up for sure. And this is what you really need to plan for. You need to plan on getting a good education for yourself so that you can be in a strong position to get a great job when the job market opens its doors.

So, by the time you have finished your school or college education and the economic scenario has blossomed, you will find yourself to be one of the lucky ones armed with a good education and you would owe it all to the smart decision you made on availing of Key Bank student loans.