Last week, we asked seniors what they thought of fixed indexed annuities (FIAs). Now, we give boomers a chance to give their opinion on this important retirement product. Have they ever owned one? If not, would they purchase a fixed indexed annuity.
Have you ever owned a fixed annuity?
No. I do have some life insurance products to guard against my passing so my wife and our kids will be in good shape. The last time I met with my agent we did discuss annuities as an additional safety net and I told him I’d need to think about it further. I’ve been doing additional research on the topic and like what I see. I’m pretty sure I’m ready to add annuities to my portfolio.
I do not own a fixed annuity or really anything like that. I’ve been a bit upside-down the last few years and haven’t had the wherewithal to make an investment like that. I’m in residential real estate and was busy flipping houses when things were hot a while back. I managed to get out without too much damage, but I didn’t get out completely so these last few years I’ve been dealing with multiple mortgages and even a foreclosure. I’ll say this though, the market is finally beginning to see positive signs. I continue to work as an agent although I’ve learned my lesson about flipping. There is good strength in the market with a lot of pent-up demand.