2% fee upfront on SPIA purchase
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- Joined: Fri Nov 09, 2012 7:37 pm
2% fee upfront on SPIA purchase
I have been investigating annuities (interest is in SPIA type only) and it seems that every company (VANGUARD included) charges at least 2% of the annuity value being purchased upfront. Does anyone have any information on credible companies that charge less for such a product??
Re: 2% fee upfront on SPIA purchase
You might review this site. Maybe you can purchase direct from one the the listed companies.
http://www.incomesolutions.com/InstPricing.aspx
This site is recommended by Paula Hogan in this article (pg 3):
http://www.advisorone.com/2013/04/29/in ... a-lifetime
Please repost if you find you can bypass the transaction fee.
Paul
http://www.incomesolutions.com/InstPricing.aspx
This site is recommended by Paula Hogan in this article (pg 3):
http://www.advisorone.com/2013/04/29/in ... a-lifetime
Please repost if you find you can bypass the transaction fee.
Paul
When times are good, investors tend to forget about risk and focus on opportunity. When times are bad, investors tend to forget about opportunity and focus on risk.
Re: 2% fee upfront on SPIA purchase
There are two choices - you can buy through a company like Vanguard which tells you about the fee, or a company that does not.
In any case, what you are comparing is the periodic income you are getting which is AFTER the fee.
So the fee is immaterial. What matters is the monthly (or quarterly or annual) income that your lump sum buys.
In any case, what you are comparing is the periodic income you are getting which is AFTER the fee.
So the fee is immaterial. What matters is the monthly (or quarterly or annual) income that your lump sum buys.