Suze Says NO to Variable Annuities

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Jun 15, 2006 4:12 pm

I saw a video of Suze doing a live propaganda show on CNBC at a Metlife Due Dilligence trip.


Suze Says "Annuities are bad bad bad....(shakes her head with thumbs down sign) AND what's worse are Brokers who put all their clients' money from an IRA in an ANNUITY!!!  (Shakes her head with all the dramatics....)   There is NO REASON to use an ANNUITY inside an IRA!!!


Suze takes a call from a viewer ... "Yes, Suze, my husband retired about two years ago and his broker convinced him to put all his IRA into an annuity (Suze shakes her head and makes a sour face )


Well, the the market dropped and his account went down almost 40%!... (Suze flails her hands around ) But then my husband died a year ago and the broker gave me a check for the entire amount of his original deposit.... so what should I have done differently?"


 "OOHHH! WELL< in THAT case an ANNUITY makes PERFECT sense!"


We made the Metlife people play it over three times- it was sort of like a Rocky Horror Picture Show as people were imitating her gestures and dramatics.


Now I don't care who ya are, that theres' some funny stuff.



Jun 15, 2006 7:58 pm

Love it!

Jun 15, 2006 9:30 pm

I was in a conference in NY last year and my firms insurance division head told us, when Suzie was a broker she won an award for selling the most variable annuities in her branch!


DAMN HYPOCRITE

Jun 15, 2006 9:43 pm

Wasn't she in bed with GE 8 or 9 years ago trying to market a VA with her name on it?

Jun 15, 2006 11:28 pm

She just irritaes me....period. 

Jun 16, 2006 12:04 am

Well, people, what should we expect when we listen to advice from a former coffee shop waitress?

Jun 16, 2006 9:03 am
Philo Kvetch:

Wasn't she in bed with GE 8 or 9 years ago trying to market a VA with her name on it?


Who in the hell would get in bed with her? 

Jun 16, 2006 9:32 am
Soothsayer:
Philo Kvetch:

Wasn't she in bed with GE 8 or 9 years ago trying to market a VA with her name on it?


Who in the hell would get in bed with her? 



What the hell? I would, if I didn't have to pay and none of my friends would find out.

Jun 16, 2006 6:53 pm

The income guarantees on annuities finally justify their use inside of IRAs.

Jun 16, 2006 7:32 pm

cranky sob:

What the hell? I would, if I didn't have to pay and none of my friends would find out.


---------------------------------


Yea, but as a result, your wicky-wacky might shrivel-up and drop-off 2 days later. How would you explain that to your friends?

Jun 19, 2006 6:55 pm

Some good stuff in here. Did not know ole' Suze won an award for selling Annuities. 


America is a great country.


Coffee shop waitress writes a book and makes megamillions.


Martha gets out of jail and is more popular than ever.


Oprah makes eleventy kabillion dollars by going on and off diets.


Go figure...

Jun 20, 2006 12:09 am

hahahahahaha

Jun 20, 2006 5:36 am

any you would think I would be rich being the first 3 legged man!

Jun 20, 2006 9:01 am

Anyone know how we can get a copy of that piece?  I've seen it as well and it's great!

Jun 20, 2006 9:04 am

Excellent post, muntalks.  I had heard about this video and I would love to see it.


Honestly, Suze generally works with clients that WE DO NOT work with.  People with large debt and no investable assets.  So of course, we make different recommendations than she does.  Those people do not belong in the stock market speculating to get out.


On the other hand, people with 401k rollovers are our prospects.  It is simply good planning to put portions of these accounts into annuities (I like fixed indexed) to put insurance on their portfolio.

Jun 20, 2006 12:08 pm
doberman:

cranky sob:

What the hell? I would, if I didn't have to pay and none of my friends would find out.


---------------------------------


Yea, but as a result, your wicky-wacky might shrivel-up and drop-off 2 days later. How would you explain that to your friends?



I'm still laughing over "Wicky-Wacky" . Was flipping through the channels Sat nite and Suze was coming on, left it on for a nano second and rolled off the bed laughing because I thought of "wicky-wacky" and my husband thought I had lost my mind.