an insurance policy on a mutual fund. “In order to get these guarantees, you’re basically buying insurance,” she explains.
Swinton isn’t deterred by the fees. Prior to investing in the principal-protected annuity, her funds were in a nonqualified stock brokerage account, and she says the fees and losses from that account were unbearable.Now that she has peace of mind about her retirement account, she is focusing on college savings accounts for her 10-year-old daughters Nakia and Erica.