who organized all of my ex-girlfriends in a choir and got them to sing?

[luvrhino]

Goddamn Obama. All non-hourly employees at my company received the equivalent of a 8-12% pay cut last week. Only 5% of that was in base across-the-board salary cut. However, they also changed the company match on the 401(k) plan from being 6% to a sliding scale of 0-4% depending on company performance. On top of that, they canceled our share

Comments

you refuse to come to Houston...not that i blame you

[luvrhino]

Annuities that have the additional insurance policy where they can't lose money really screw you on fees. Granted, the last couple years that would have been great. However, under any kind of bullish market, you'd really get killed they eat the profits. Annuities have to make money some how. They charge the owner for the annuity's assumption of market risk.

A person who is looking long term and doesn't need access to the money within 10 years should be the last person to use that kind of arrangement. Increased investment time lowers the overall risk, so it makes even less sense to accept the annuity's penalty in order to lower one's risk even further.

I only glanced at it, but this Motley Fool article looks like it covers my points in greater detail even though several years old:

http://www.fool.com/retirement/annuities/annuities.htm

I do appreciate you looking out for my financial well-being given that i just whined about it...even though i'm in no position to whine compared to you.