Comments on: Ben Stein’s Parents are Well-Off Thanks to Variable Annuities http://www.consumerismcommentary.com/2008/02/26/ben-steins-parents-are-well-off-thanks-to-variable-annuities/ A premiere personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sat, 21 Nov 2009 16:42:00 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Dwayne http://www.consumerismcommentary.com/2008/02/26/ben-steins-parents-are-well-off-thanks-to-variable-annuities/#comment-196025 Dwayne Wed, 22 Jul 2009 19:53:41 +0000 http://www.consumerismcommentary.com/2008/02/26/ben-steins-parents-are-well-off-thanks-to-variable-annuities/#comment-196025 Please check out the article in todays (07/22/09) Wall Street Journal. Finnaly even the "so called" pundits have admitted they were wrong and Variable annuities can be a great addition to your investment portfolio. In fact now they are saying that the fees are not high enough. Imagine that, when the market is doing well they have no use for them, but all of a sudden when the market does't do well they change their minds. Idiots like Suze Orman and Clark Howard should hang their head in shame!!! Please check out the article in todays (07/22/09) Wall Street Journal. Finnaly even the “so called” pundits have admitted they were wrong and Variable annuities can be a great addition to your investment portfolio. In fact now they are saying that the fees are not high enough. Imagine that, when the market is doing well they have no use for them, but all of a sudden when the market does’t do well they change their minds. Idiots like Suze Orman and Clark Howard should hang their head in shame!!!

]]> By: Jonathan http://www.consumerismcommentary.com/2008/02/26/ben-steins-parents-are-well-off-thanks-to-variable-annuities/#comment-139531 Jonathan Sun, 09 Mar 2008 01:50:48 +0000 http://www.consumerismcommentary.com/2008/02/26/ben-steins-parents-are-well-off-thanks-to-variable-annuities/#comment-139531 I read a few of Ben's books (Yes, You Can Still Retire Comfortably and Yes, You Can Be A Successful, Income Investor) and I gave the first one as a gift to both of my sisters. In the first book Ben mentions that for someone of good health (typically the type of people who go for these) it could well be beneficial. He strongly cautions aginst the esoteric nature of these complex financial instruments (think life insurance type complexity) and I agree they could have their place in these limited situations. I read a few of Ben’s books (Yes, You Can Still Retire Comfortably and Yes, You Can Be A Successful, Income Investor) and I gave the first one as a gift to both of my sisters.

In the first book Ben mentions that for someone of good health (typically the type of people who go for these) it could well be beneficial. He strongly cautions aginst the esoteric nature of these complex financial instruments (think life insurance type complexity) and I agree they could have their place in these limited situations.

]]> By: dong http://www.consumerismcommentary.com/2008/02/26/ben-steins-parents-are-well-off-thanks-to-variable-annuities/#comment-138006 dong Wed, 27 Feb 2008 03:35:27 +0000 http://www.consumerismcommentary.com/2008/02/26/ben-steins-parents-are-well-off-thanks-to-variable-annuities/#comment-138006 I think Ben Stein's parents have probably had a better experience with variable annuities because I have to assume as academics they invested via TIAA-CREFF which is not the bloodsucker that many of the companies offering variable annuities are. As a vehicle variable annuities have their place and purpose. The problem is that they are so laden down with fees and extra charges that the benefits are often wiped out. Ben has good points, but finding a worthwhile variable annuity offering is more easily said than done. I think Ben Stein’s parents have probably had a better experience with variable annuities because I have to assume as academics they invested via TIAA-CREFF which is not the bloodsucker that many of the companies offering variable annuities are. As a vehicle variable annuities have their place and purpose. The problem is that they are so laden down with fees and extra charges that the benefits are often wiped out. Ben has good points, but finding a worthwhile variable annuity offering is more easily said than done.

]]> By: Jeremy http://www.consumerismcommentary.com/2008/02/26/ben-steins-parents-are-well-off-thanks-to-variable-annuities/#comment-137966 Jeremy Tue, 26 Feb 2008 17:10:53 +0000 http://www.consumerismcommentary.com/2008/02/26/ben-steins-parents-are-well-off-thanks-to-variable-annuities/#comment-137966 Just like any investing vehicle, VAs do have their place in certain circumstances with certain types of people. Like Ben said, anyone with reasonable abilities and knowledge in regards to investing, there are obviously much better ways to put your money to use. But some people will never have the ability or even desire to set up their investment portfolio, or maybe they just really want to have that guarantee of income. While I won't recommend them, I see people doing more harm to their finances with other investment vehicles than a VA could ever do. Just like any investing vehicle, VAs do have their place in certain circumstances with certain types of people. Like Ben said, anyone with reasonable abilities and knowledge in regards to investing, there are obviously much better ways to put your money to use.

But some people will never have the ability or even desire to set up their investment portfolio, or maybe they just really want to have that guarantee of income.

While I won’t recommend them, I see people doing more harm to their finances with other investment vehicles than a VA could ever do.

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