Is the IRA provided by Met Life with a guarantee 6% growth a good investment?
They guarantee a minimum 6 % growth for your IRA's income potential, not cash value. This costs 1.55% management fees on each fund and 0.5% annual maintenance fee (I am not sure of the fee catagories names, but the numbers are right).
Asked By: steve p - 4/9/2008
Best Answer - Chosen by Asker
A 6% guaranteed return is not a horrible number, but it's not a very good number either, especially if you assume there is going to be inflation, and there always is. If inflation creeps up to 3%, your net is only 3%... And, you've paid over 2% to get it! Any time total expenses exceed 2% that's pretty high. Part (most... More
Answered By: man_with_a_big_member - 4/10/2008
Additional Answers (3)
I'll say this. Any fund that charges over 1% fee is too high. You could do better with T. Rowe Price or even Vanguard for that much. No fund can guarantee anything, unless its a fixed investment or an annuity, that's it.
Answered By: $so fresh so clean$ - 4/9/2008
They gaurantee 6% and have fees in excess of 2%? Soundsl like a bum deal to me .
Answered By: Don - 4/9/2008
It's a terrible investment. Your real return is 3.55%. A bank CD has better terms. 6.00% -1.55% -.50% = 3.55% Open a Roth IRA and starting dollar cost averaging in the S&P 500 if you are looking for 10+ year retirement growth. http://en.wikipedia.org/wiki/Roth_IRA
Answered By: Net Advisor - 4/10/2008
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