Kirk Chisholm

Wealth Manager, Series 65
Personal Finance, Retirement, Investing
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Helpful
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“Kirk Chisholm is a Wealth Manager and Principal at Innovative Advisory Group. His roles at IAG are Co-Chair of the Investment Committee and Head of the Traditional Investment Risk Management Group. His background and areas of focus are portfolio management and investment analysis in both the traditional and alternative investment markets.”
Firm:

Innovative Advisory Group

Job Title:

Principal

Biography:

Kirk has been providing wealth management services to individuals, executives, entrepreneurs, and their families, as well as businesses and organizations since 1999. He works with clients to advise them on financial planning, risk management, and portfolio management. He is also an expert at using a self-directed IRA or self-directed 401K to invest in alternative investments. He particularly specializes in alternative investments such as: real estate, precious metals (gold & silver), tax liens, horses, franchises, private company stock, start-ups, intellectual property and more. Kirk is dedicated to developing lasting relationships with all of his clients. 

Education:

BA, Economics, Trinity College

CRD Number:

4004975

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April 2017
    Financial Planning, Real Estate
July 2016
    Personal Finance, Real Estate
September 2016
    Real Estate
September 2016
January 2017

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    Financial Planning, 401(k), Annuities, IRAs
I'm planning to rollover my 401k to an IRA fixed annuity. Is it a good idea?
100% of people found this answer helpful

Why would you do this?

You should consider the following:

  1. If it is a plain fixed annuity with a fixed rate (like a CD) and the rate is better than you could find elsewhere, then it might be fine.
  2. If it is an equity index fixed annuity- don't do it. Just don't do it.
  3. Annuity fees are based on the added attribute that they are tax deferred money. Inside an IRA, you are paying more for a benefit that you are not receiving. Higher fees equal lower returns over time.
  4. How many of the world's best investors use annuities? I have not heard of any. 

In general annuities inside IRAs are not a great idea. The only ones I have seen that make sense are the plain vanilla fixed annuities that act like CDs. In many cases they can have rates higher than bank CDs. Obviously much of this will depend on rates, credit rating of the insurance company, the terms of the annuity, and other factors. Whatever you do, just make sure you read the fine print of the annuity contract to know what you are buying.

I hope you found this helpful.

Kirk

March 2016
    Investing, Small Business
How do I attract investors?
100% of people found this answer helpful
May 2017
    Retirement, 401(k), IRAs
Should I rollover my 401k to an IRA?
100% of people found this answer helpful
March 2016
    Debt, Small Business
How would inflation affect individuals who loan money to growing businesses at fixed-interest rates?
100% of people found this answer helpful
March 2016
    Retirement, Retirement Savings, Investing, IRAs
How much money would should I put in a Roth IRA?
100% of people found this answer helpful
April 2016