Thursday, July 06, 2006
Variable Annuities: Payday Or Peril?
The two workers were part of a larger group of 32 ExxonMobil chemical plant and refinery employees. They were blue-collar and financially unsophisticated, ranging in age from 55 to 67. Some were pipefitters making maybe $45,000 per year, while others were machinist supervisors earning as much as $80,000 with overtime. During three years of meetings that began in 1997, their broker repeatedly told them: "Why are you working? I can make you more money when you're retired than when you're working."
Variable Annuities: Payday Or Peril?
Source: On Wall Street
Variable Annuities: Payday Or Peril?
Source: On Wall Street
Permalink posted by armandn @ 12:46 PM 
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