nationwide annuities FAQ

How do I avoid the 10% penalty for early withdrawal from a variable annuity?

Mar 30, 2007 by Richard R | Posted in United States

Seventeen years ago my dad set up a variable annuity from Nationwide Insurance for my newborn daughter to help with her college expenses. I was named the custodian (until she is 18), and also the beneficiary. I now want to take that money and use it

You may avoid the 10% if you leave a portion in the account. But, you will still pay taxes.

Talk to your banker about the possibility of borrowing against the inuity. You'll be interest, but it may work out more in your favor in the long

Fancy That | Mar 30, 2007

You may avoid the 10% if you leave a portion in the account. But, you will still pay taxes.

Talk to your banker about the possibility of borrowing against the inuity. You'll be interest, but it may work out more in your favor in the long
utterlyagog | Mar 30, 2007

Which Company Is Best For Investments?

Jun 11, 2010 by Tracy A | Posted in Investing

Would you tell me if Edward Jones is best to go with or Weddell or Reed? I am 70 and have already gone though 2 Mutual Funds crashes. Reed want to put me in a Nationwide Annuity at 7%. I am at a loss of where to put my investments. I have already changed

I agree with just about everything said by Common Sense and exactduke (above). The best investment you can make at this moment is in education - go down to your library or book store and pick up one or two books on the basics of investing - focus on

El Guapo | Jun 15, 2010

Stock market crashes happen all the time. That is a normal part of investing. If these bother you, why not skip equities (and market crashes), and have laddered CDs, and/ or bonds??
1, 2, 3, 4, 5 yr CD (laddered) 50% of your money.
50'%
exactduke | Jun 11, 2010

Would You Change Companies For Your Mutual Funds?

Jul 02, 2010 by Tracy A | Posted in Investing

In 1997 I started out with almost $300,000 and I have changed companies 5 times now because no one has made me any money and I have only lost money with all the stock crashes. Today I have only $400,000 and I did have $400,065 in 2008. today because of

You have cost yourself money by switching around so much and selling when you're down. The Dow is 2 or 3 thousand points higher since 1997. I am not a big fan of annuities. But with all the time that has already gone by you probably need to put it

jeff410 | Jul 03, 2010

nationwide annuities news

Nationwide annuities: Sausage factory or sensible solution?

18.05.12

Annuities advice at Nationwide is available on pots worth at least £18,000. It will use The Open Market Annuity Service (TOMAS) software to produce client reports.

Customers will receive quotes from six regular, enhanced and fixed term annuity providers: Aviva, Canada Life, Just Retirement, Legal & General, LV=, and Partnership.

Advisers were quick to condemn the service due to its restricted nature but, as the advice industry contracts, others claim the Nationwide model is pragmatic.

Better than nothing?

Some advisers said to have some form of advice is better than to have none at all.

The National Association of Pension Funds (NAPF) recently claimed people with less than £50,000 worth of savings could not access advice.

Though the £50,000 figure has been contested, some advisers have admitted it is difficult to cater for small pots.

Richard Fyfe, chartered financial planner at Fyfe Financial, said: “Anything that can help with small pots is good. Lots of clients will not be able to access advice. If it is a better solution than the internet, it could work,” he said.


Source: ifaonline.co.uk