Allianz MasterDex 10... An Opinion
Q. Yes, please give me your opinion on Allianz MasterDex 10 Annuity?
A financial planner is pushing this for seniors...I have an IRA which I will rollover..Your reply would be very much appreciated.
Thanks
A. I do not like the Master Dex at all. My article about Putting Lipstick on a Pig is about a sister product offered by Allianz.
There isn't any need to use an EIA, especially for an IRA. The only reason the advisor is recommending it is because of the commission. As a result, I would not trust any other advice that 'planner' has or will give you and recommend you find someone who will have your best interests at heart.
If you absolutely have to have an EIA-type vehicle, then you should use an Equity-Linked Certificate of Deposit. It's guaranteed by FDIC, has all the benefits of EIAs but without automatic surrender penalties. You can also get them for a 3 year term.
Special Report on Equity-Indexed Annuities:
I'm offering to investors who are considering Equity-Indexed Annuities
special report on Allianz's Equity-Indexed Annuities. It explains in great detail why I think buying an EIA may be one of the worst financial decisions a person can make.
Two Articles on Equity-Indexed Investments:
Here are a couple investment articles I've written that will help you understand equity-indexed or equity-linked investments.
"Equity-Linked CDs."
"Putting Lipstick on a Pig."
If you like, I am willing to show you what I would recommend if I were managing your account. To do so, I need you to tell me more about yourself, your situation and the amount of investable assets. Also tell me how you have invested in the past and what your main concerns are.
Regardless, thanks for asking your question. Run like the wind from that advisor.
Your posted comments on this and other questions are welcome.
If you have a question for Jeff an answer is just a click away.
Find a wealth of information at Jeff's website.
posted by Jeffrey D. Voudrie @ 3:57 PM
2 comments
2 Comments:
Actually this can be a very good investment, and isn't just about commissions. I have a client that made 35% in their first year on their masterdex 10 annuity with their bonus. The Nasdaq made 22% and the SP 500 made 18%. The account was split 50/50. Just how much total fees will you charge over a 10 year period? How do you get off putting this type of information on the internet?
Hi Jeff, I am new to your website and thank you for your time and comment. I read your response regarding the Allianz Masterdex 10 and I am in flux about my Allianz account. I did receive a 10% bonus on my invested funds when I invested it, but have not added anything else to it since then. It has an extremely long maturity time limit on it, but I don't plan to touch that anytime soon anyway. I am 56 years old today. What would you suggest I do to make sure that my life is in order for retirement in 6 years should I decide I want to retire?
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