Wednesday, March 14, 2007
Annuities Complaint Sends Up a Red Flag
Stanley and Elinor Weisman ate a free Ritz-Carlton meal at a financial seminar with other retirees, and also swallowed the sales pitch.
It went like this: Their money would be safe. They could withdraw part of it every year if they needed, and the $600 monthly income would help pay living expenses for the fixed-income seniors.
But when the monthly checks didn't come and Stanley Weisman was hospitalized, the couple discovered it would be years before they could touch their $100,000 investment without a substantial penalty.
Annuities Complaint Sends Up a Red Flag
Source: HeraldTribune.com
It went like this: Their money would be safe. They could withdraw part of it every year if they needed, and the $600 monthly income would help pay living expenses for the fixed-income seniors.
But when the monthly checks didn't come and Stanley Weisman was hospitalized, the couple discovered it would be years before they could touch their $100,000 investment without a substantial penalty.
Annuities Complaint Sends Up a Red Flag
Source: HeraldTribune.com
Permalink posted by armandn @ 9:24 AM 
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