The sole purpose of an IRA, 401(k) or a 403(b) retirement plan is to provide income streams for life, NOT GAMBLING…
However, like everything else in America, Wall Street always seems to get its hands on peoples savings and turn them into a Casino for their use. 401(k)s are savings plans, THEY ARE NOT PENSIONS FOR LIFE.
By Barry James Dyke
The traditional, mostly uniformed press tells people should not put any savings into annuities because they can get better returns of return elsewhere. That is complete bunk dear friend. The media does not want to tell the truth, they are just in the job in helping banks and mutual fund companies sell their highly speculative products.
Jeremy Siegel, Wharton School Professor, in December 2019, said this about annuities for providing retirement income. “Annuities have a primary role for the future of retirement income.” .
I could not agree more. My research has verified that General Motors, British Airways, Lloyds Banking Group, Merchant Navy Pension Plan, Rolls Royce, BMW, Verizon, FedEx, Kimberly Clark, Bristol-Myers-Squibb, Raytheon, Lockheed Martin and hundreds more of MAJOR world corporations have spent BILLIONS on annuities to fund and finance their retirement plans. Even the bankrupt Lehman Brothers in the U.K. spent $1 billion on annuities to finance its pension.
The truth is that most annuities are far superior to mutual funds when it comes to providing lifetime income streams.
Source: Barry J. Dyke
Castle Asset Management, LLC, Hampton, NH 03843-0095