Who are these people?
Sometimes I read these articles on MarketWatch and occasionally I peruse the comments written by people with obviously way too much time. I really do wonder who these people are that have enough time to post the stuff they do. Don't they have jobs?
I found this one particularly funny: http://www.marketwatch.com/news/story/Retirement-plans-derailed-bear-market/story.aspx?guid=%7B45D4467D%2D9779%2D4E61%2D8B78%2D16B57E442772%7D&dist=hplatest
The comment by "litirte" was interesting. He says how variable annuities are terrible and that the guys that sell them are "lizards". He also says that these variable annuities don't offer CD's for the investors to move into when the market is bad.
I'm thinking, the whole point, you moron, is to stay invested in the variable annuity. I know there are legitimately stupid people in this world, but people like this guy actually piss me off.
Here's the problem....this is fueled by the stories and articles they read. Which are written by un-qualified "reporters" that talk to one person about the anuity salesmen that scammed them (which may be true, but it's ONE person's tale). All of a sudden, this reporter ("expert columnist") extrapolates this experience over the entire universe of annuities and advisors. So all of a sudden half the country thinks "annuities" are scams.