November 13, 2008
To Whom It May Concern:
I hope Congress will not be accused in the future of lack of regulatory oversight with regard to Indexed Annuities. As a financial planner since 1982 we see many abuses and misleading especially of the elderly with this item. Troubled economic times like now make it even worse with the "hidden" charges and lack of cost-effective liquidity. Indexed annuities are often presented as the single most important, easy, safe and guaranteed security for retirement. Proper financial planning is much more involved and complex.
Please support the proposed Indexed Annuity Rule.
Paul B. Nervig, CFP®, Pres.
Capital Directions, Inc.