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The Vigilant Investor by Pat HUDDLESTON

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10Variable Annuities

Bells, Whistles, and Porcine Cosmetics

Variable annuities stink!

—CLARK HOWARD

I think variable annuities exist for one reason only: to makemoney for the financial advisers who sell them.

—SUZE ORMAN

In 2008, Marcus and Michelle Schrenker were living what seemed like the perfect Ken and Barbie lifestyle—a 10,000-square-foot home in an exclusive Indianapolis suburb, a 6,500-square-foot house in suburban Atlanta, luxury automobiles, boats, and airplanes. Having studied finance and aviation at Purdue University, Marcus Schrenker became an investment adviser and an accomplished stunt pilot. At 33 years old, he was already an impressive man. Everyone thought highly of him. More than 100 people had entrusted their financial future ...

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