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Annuity Owner Mistakes
Okay, so I can tell you I have sat in front of countless numbers of individuals who have made mistakes when purchasing and owning annuities. And I have visited individuals who wish they never got involved in an annuity. And I have seen individuals who say that their annuity is their worst nightmare...So what is it that makes the annuity such a inferior thing for some individuals and such a worthy vehicle for others Well I am about to tell you...and it all goes back to the annuity owners biggest MISTAKE. Yes, not mistakes but mistake.
Let me explain to you. Most annuity and insurance agents out there have what is called their "best product." IT is the product that can supposedly solve every investment need for any investor. And they make it sound so worthy that when somebody is shopping for annuities, they question the salesperson, "what is the best annuity?" and this is the biggest mistake. For all you know, the best annuity to the salesperson may be the one that pays the best commission to him. This question gets more individuals in trouble than any other question in the investment world..."What is the best ____________ (annuity, stock, mutual fund, etc)? Like I say all the time, there is no best investment because everyone's needs are different. Each investment has it's own benefits which have to be matched to an investor's needs.
So in essence, the biggest mistake is searching for the "best" investmtent. So how do you avoid the annuity owner's biggest mistake? By asking a better question? The best question is "What is the best investment FOR ME?" That question is totally different. You see, to further elaborate, the biggest mistake involves not doing your homework. When you don't do your homework and you look for the "best" investment, you will probably end up with something that you don't want. By doing your homework, you can figure out what you DO want and what you DON'T want. And when a salesperson presents something to you, you can quickly see if it fits your needs or not. If it does not, then the salesperson probably didn't do his job.
One tool to assist you in this search is the book, "Annuities: The Shocking Truths Revealed
The bottom liine is, always ask, "what is the best annuity for me?" And if the salesperson starts shooting out answers without asking you about your situation, then run...run and find another person. And before they question you about your situation, it's a worthy idea to know your own situation. The more you can assist a GOOD salesperson, the more they can assist you. And remember, there is no "best investment." There is only a best investment for each person relative to their situation and their needs. And please remember...
Ignorance is not bliss...
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