"I Fell For An Annuity Scam"
The Ramsey Show Highlights
Ramsey Network
4.5 • 839 Ratings
🗓️ 20 December 2025
⏱️ 8 minutes
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| 0:00.0 | Zander shops all the top-term insurance companies to save you money. |
| 0:06.8 | Get started at zander.com. |
| 0:08.7 | I fell for the annuity scam and didn't know it was a scam until after I did it and after my |
| 0:14.4 | 20-day window was over. |
| 0:16.8 | In October, we rolled $689,000 of my husband's 401k into a fixed annuity. |
| 0:24.3 | And they gave us a 5% bonus. |
| 0:26.5 | So the value today is seven 24. |
| 0:29.3 | Uh, the problem is the insurance company as I'm sure you know keeps 22% of that. |
| 0:34.7 | And the first year's return charges 13 13 percent so my question is do we |
| 0:41.0 | stay until the surrender charges drop especially given you know this is 30 days old this is 30 |
| 0:48.8 | days old it's um it's over that it was in oct October well okay I mean it's 45 days old yeah okay |
| 0:59.3 | he told me it's too late he told me I had a 20-day window this is the insurance |
| 1:02.7 | agent that told you this this crap correct okay good all right um I don't know is the answer, but I want more information because I don't believe the person who sold me something that's bad to start with. |
| 1:21.6 | That's not a good source of information. |
| 1:24.5 | Fair and fair enough. |
| 1:25.3 | So go to Ramsey Solutions.com and click on Smart smartvestre pro and get one of our smart vester |
| 1:29.8 | pros there in your area that you can talk to and tell them what you've got and see if |
| 1:35.3 | the insurance commissioner in Texas will grant you a little more leeway than that and you get |
| 1:42.6 | a hundred cents and the dollar back. |
| 1:52.4 | Okay. And then get back out of it so um yeah and then get this into some good investments there aren't so front-loaded and crappy in performance right so um |
| 1:57.7 | so do you recommend an index fund? |
| 2:04.0 | I recommend a fruit jar before you do this, but the index fund is fine. |
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