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Personal Finance and Investing

3Hotdogs

(13,571 posts)

1. My uncle was talked into buying an annuity. About a year later, he figured out that it wasn't the best use of his

Reply to mahatmakanejeeves (Original post)

Sun Aug 11, 2024, 02:30 PM

Aug 2024

disposable income. I recall him complaining about the saleswoman who sold him the investment.

But --

Turns out, the bank was the loser on that one. He lived for 22 years, from the time he bought it.

Two other bad purchases: life insurance and reverse mortgages.

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Insurance lobbyists block federal crackdown on costly retirement advice [View all] mahatmakanejeeves Aug 2024 OP

My uncle was talked into buying an annuity. About a year later, he figured out that it wasn't the best use of his 3Hotdogs Aug 2024 #1

I don't think the bank lost out, they just collect a commission. It's the insurance company behind the annuity that progree Aug 2024 #2