Fee-only advisors don’t like them! Suzy Orman does not like them! Many investors regret investing in them! We are talking about annuities. However, many Americans invest in annuities for one reason…their commissioned based financial advisor loves annuities. Expenses Commissioned based advisors commonly recommend annuities to clients for one reason and one
Introduction When I drive my car, I don’t know how the internal mechanics work. I know if I push on the accelerator, the car speeds up. If I hit the break, the car slows down and stops. If I turn the wheel one way or the other, the car will
TIAA-CREF recently announced a change to the expense structure of the CREF variable annuities. Since the inception of CREF Stock in 1952, TIAA-CREF has had a single class low-cost structure for all CREF variable annuities. Beginning April 24, TIAA-CREF is expanding each variable annuity from one class to three classes
Oil prices fell to multi-year lows through 2014 while bottoming out in dramatic fashion through the end of the year. During this time, talking heads debated the merits of falling oil prices as the markets seemed confused. Although there are slight negatives to low oil prices, it is resoundingly good
Investors who start to research TIAA-CREF’s investments usually ask something right away. Why do some of the funds have ticker symbols and others do not? A ticker symbol in relation to a mutual fund is a five digit abbreviation used to identify a specific fund. It is very common to
The government recently announced that over 55 million Social Security recipients will receive a 1.7 percent increase in their benefits starting in January of 2015. This is among the lowest increases since 1975. However, this figure is tied to inflation which has been at extremely low levels since the great
I recently met with prospective clients. We had a great conversation and ended an hour and a half meeting with handshakes and a smile. After the meeting, I felt really great about our conversation and the caliber of the couple I had just met with. They had done well for
Many of TIAA-CREF’s variable annuities are broad funds that cover several asset classes. Investors who place money in these accounts must be careful to understand which asset classes are included. After all, if you want a large-cap growth fund, it should be invested in large-cap growth. Otherwise, the integrity of the
Introduction Often, individuals with substantial accumulations manage their own money or work with a financial advisor more inclined to sell a product than add value. Many of these individuals are “leaving” money on the table. However, this opportunity cost lost is often not realized. Here are the biggest mistakes made
As a consumer, imagine if you were expected to buy an item without knowing the cost. In this case, most consumers would walk away from the retailer in disgust. Yet, millions of Americans who own mutual funds have no idea what the internal charges are for their investments. When it
TIAA-CREF has multiple withdrawal and transfer rules which are different depending on the type of contract, type of accounts, and amount in each account. This makes it very difficult for their own investors and advisors to make informed investment decisions. In this article, I will address one unique option for
Financial Planning for employees who work at a university (or hospitals associated with a university) can be complex not only to the employees, but also to financial advisors not used to working with clients in this arena. Navigating through the complexities of this niche market requires the experience of working
University Contributions I have traveled to universities across the United States each with different contribution amounts. I have found college and university contributions can vary widely. The information below provides the contributions of several randomly selected public and private colleges and universities. You will see the organization, followed by the
Financial planners help clients achieve financial goals by providing advice on how best to save, invest, and grow assets. Anyone can hang out a shingle as a financial advisor, but that does not make them an expert. Don’t confuse a financial planner with a stockbroker, who is usually contacted for
Introduction I find it ironic the sequel to the classic 1994 film Dumb and Dumberstarting filming at the same time the White House and Congress were leading up to a government shutdown. Many Americans could make a pretty convincing argument that it may be hard to distinguish between the two