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Mastering Money

Mastering Money is hosted by Certified Income Specialistâ„¢ Steve Jurich. Steve's comments have been seen on MarketWatch, CNBC.com, Bloomberg, and TheStreet.com. Steve is joined on most days by Money Radio favorite Sinclair Noe as well as experts and authors from the world of Wall Street and real estate. New episodes published every weekday at 9am PST. Listen every weekday to get a handle on emerging market trends, asset allocation strategies, social security, medicare, RMD planning, tax strategies, estate planning, annuities, life insurance and more!
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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."