Variable annuities are very tricky investments. They are not suited for everyone. You must be sure to get as much information as possible when researching variable annuity products. Focus on questions relating to fees, penalties, lock-in periods, and surrender charges. For example:
- With my retirement goals, how soon will I need this money?
- In my current financial situation, do I have enough money to purchase this product?
- What Ill I lose if I exchange this product at a later date?
- What percentage of my assets is appropriate for an annuity given my retirement objectives?
- What does the annuity guarantee?
- What are all the fees associated with this annuity?
- What is the best risk tolerance for my goals?
- How do the surrender charges work?
- When will I be able to access my money in the annuity for no extra cost?
- To whom do you usually suggest variable annuities?
- What percentage of my original investment is it possible to lose in this annuity?
- Do I need an annuity if I already have a 401(k) or an IRA?
If you have a legal question about an investment or think you have been the victim of investment fraud, please contact the attorneys at The Frankowski Firm at 888-741-7503 to discuss your potential legal remedies.