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Mastering Money

Tune into one of the best retirement shows on the radio! Mastering Money is hosted by Certified Income Specialist™ and best selling author, Steve Jurich (pronounced Jur-itch). Steve is an experienced 20 year veteran of financial services and is licensed in securities, insurance, and real estate. He is a Certified Annuity Specialist® who reviews up to 2700 annuities on a regular basis. As a fiduciary, Steve’s clients enjoy access to the services of Fidelity Institutional, member FINRA, SIPC.
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Dec 20, 2016
Have you heard about the idea of placing structured notes inside of variable annuities? 
Many variable annuity marketers are touting this idea as the greatest thing since sliced bread: The idea of placing Structured Notes (debt instruments) inside of variable annuities. The pitch is that you may be limiting losses to the downside to no more than 10% (plus the 4% loss to fees) while getting a share of the market's upside (less the 3% - 4% in fees).  Here's the problem: If the next ten years in the market are flat and your variable annuity charges you 3% to 4% a year in fees, you will pay out 30% to 40% of your money in fees alone. If the market is not strong, the whole exercise could be an expensive way to approach your retirement and watch your principal dwindle.  Why pay that much money in fees?  In this special podcast,  Steve reviews simpler, safer, and less expensive ways to receive more income than a variable annuity while simplifying your financial plan for your spouse.  Then Steve reviews why Monte Carlo simulations can be a very poor way to choose investments for your retirement plan due to a human trait, known as "Confirmation Bias."