Annuities Can’t Solve All Problems

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I was supposed to be out of the office for 3-4 days but when the call came saying I wasn’t allowed to come home for a while, it turned into me being away for almost three weeks.  It didn’t take long to realize how ill-prepared I was for that type of absence.  Had I known from the beginning that I’d be away so long it would have been much easier to handle.  Regardless, my family was at home dealing with Covid, so business issues were the furthest thing from my mind.

My friends drove all the way from Pennsylvania to hunt elk so there were plenty of things to keep me busy.  We got likely the worst fall storm I’ve ever seen with nearly two feet of snow, sub-zero temperatures and wind that made it impossible to even stand in one place.  The horses at times had basketball-sized chunks of ice and snow balled up beneath their feet.  Along with cutting firewood, chipping ice kept us plenty busy.  Fortunately we had a chainsaw so the firewood wasn’t much of a problem.

The heavy snow made it difficult to travel and the elk all moved out of the high country onto private land where we can’t hunt.  A meaningful hunt was replaced by survival and we stayed warm and well fed thanks to the carrying capacity of a mule.  You all know how much I love those animals.

My exile didn’t work out all that well.  Normally a mandatory two week hunting trip would be very productive but it wasn’t in the cards this year.  My creativity took a dive as well and I didn’t feel like working on my laptop in my truck, using the cell phone as a hotspot.  Business stopped for a while but what’s the big deal?

Nobody was going to lose money.  Anyone expecting a monthly check would still get it.  Annuities make life easier for you and me.

I was available via phone and email on a sporadic basis so everyone who had questions got an answer and I was able to speak with a handful of them while I was gone.  A few of those people gave me some perspective.  One person lost a loved one.  Another was laid-off and forced to retire early.  Both are examples of things that made my predicament pale in comparison.  Sure, it was one of the least enjoyable outdoor experiences of my life but other people have real problems.

Annuities don’t solve all problems and are only meant to make your financial life less stressful.  Family, health and career are all things that should come first and each of you has a couple extra things on that list that deserve attention.

I can survive under any conditions so don’t worry about me.  When the time comes for you to make lasting financial decisions, I’ll be ready to help with whatever you need.  Yes, I’m back so send your questions, ideas and comments along and I’ll get back to you ASAP.

Have a nice weekend…

Bryan

7 replies
  1. Ray Hastings
    Ray Hastings says:

    Bryan,
    I always appreciate your perspective on FIA’s.
    We have a FIA with AE. The reason we took it out 2 years ago is because of the 50% participation option in the S&P. However for this upcoming year they dropped that to 22%! Bad option and the S&P cap is just 5%. I feel cheated……….should I?

    Reply
    • Bryan Anderson
      Bryan Anderson says:

      No – you get what you pay for. You said you talked to everyone out there and no one agreed with my recommendation. I told you not to base the decision on one index alone. The contracts I sold two and three years ago still have the same participation rates and caps on all indices. You didn’t get cheated because your money is safe. That’s the whole point, right?

      Reply
    • Bryan Anderson
      Bryan Anderson says:

      Same deal near Red Lodge. Weather was no different. 18 wheelers in the ditch all along I-90. Elk in high country pushed out to lower ground so anyone with private land access did just fine. But my friends don’t have to pay $7500 for an elk hunt so they saved the money but it didn’t work out this year on public land.

      Reply
  2. Joyce McGriff
    Joyce McGriff says:

    Not getting as much, but still some which is better than zero. Money is protected and that’s important in this skittish environment. More important, your safety and that of your family, and friends.

    Reply
  3. Tom Heiple
    Tom Heiple says:

    I hope your family has made a full recovery from Covid with no permanent medical issues.
    I enjoy reading your weekly comments.
    Regards.

    Reply

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