Roger Wohlner

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Hello Roger,
My advisor wants me to roll over my 401k from fidelity into the Polaris choice IV using one of the models 1-4 that are custom allocations. I was told they have built in protections.
I asked him the disadvantages of the product and he said the fee ratio is approx 1.10%. Sun America income plus 6% income option and protection feature is the product. Keep it for 12 years I will be 65 and then if the market value is higher I take that and if the market does bad or less than the protected 6% then I could take the guaranteed 6% if that is better. He said guaranteed? It gets confusing I don't mind paying for Financial advice but should I pay for this for 12 years. He said he would add the 131,000 slowly to get the most return DCA? Should I just invest in Mutual funds with lower fees and use a fee based advisor? How much will the 1.10 % be in 12 years. How will it protect me long term.
Why should I buy a Variable Annuity when most experts always say no. Sometimes it's just like saying Hey just don't get a realtor and sell your house on your own. Pull up the forms on line and go for it. It's easy for experts to say to peolpe oh you can do it just invest in ETF's and you will be alright? Experts always dog these products but are they good for certain types of folks or are they just for suckers?

Richard Cobo of FL 9:52PM April 13, 2013

Geoffrey thanks for your comment. I agree that some of the 401(k) disclosures that I have seen are less than user friendly in terms of the way the information is presented. One point, with mutual funds anyway, the returns are net of the expense ratios. You will see the impact of all costs that are charged against the participant accounts in the account statement that you receive after the end of the current quarter, likley in October.

Roger Wohlner of IL 10:40AM August 27, 2012

what would be nice is if they put the cost of fees next to, and on the same line as the return, and even better if they listed the 1,3,5,10 etc.. returns after feee were removed. They you could really see, what your fund was doing. My plan listed it on 3 different pages making still very difficult to figure out. I'm am good with MS Excel so I was able to put the information together.

Geoffrey of NJ 5:01PM August 22, 2012