The top person and head of the world's largest single amount of bonds recently said that if you are lucky enough to make 5 percent on your money for the foreseeable future, you are likely to be counted as one of the fortunate few.
Wow, this comes as quite a shock since it seems that forever we've been led and inclined to count on double digit long-term returns on our and our clients' investments.
Even Dave Ramsey and his throng of followers still believe his website, touting 11 percent returns or better forecast annually for investments. And Dave isn't a money manager nor licensed to be such, while Bill Gross, the head and fearless leader of PIMCO investment (and the head of more bonds than any other human on the planet), has the motivation and credibility to offer a much rosier outlook.
With Europe now hitting the banking crisis we dealt with in the USA back in 2008, it seems likely that many and many more financial markets will tumble like dominoes.
The U.S. dollar has become the tallest midget or the cleanest dirty shirt as a perceived safe haven for those wanting to invest or park money until things improve. And surely the banks know this and offer virtually nothing in the form of interest on money in your bank and checking accounts.
But today it's much better to play defense and win by not losing, or staying even and not going backwards in your savings and investment accounts. And what product is better suited than index annuities for this?
