Should I sign up for an IRA and annuity?

[jason75]

So I was thinking of signing up for both a Roth and a SIMPLE IRA tied to annuities, but I am not sure if I should with the economy in the state that it's in. Stocks are dangerous right now. But because stocks are low now, does that mean now would be a good time to invest in hopes that the economy will recover? Or should I wait until I start to see improvement? I am worried that I would just be throwing money away if I invest right now. Anyone have any suggestions about this??

[jason75]

I forgot to mention, the company offering this to me is Ameriprise. Does anyone have any opinions on using them for my IRA?

[CarolineWH]

I wish I could help you on this but generally a big company is pretty safe....The last ten years or so before my husband retired, I played it pretty safe in the stock market and made sure our portfolio was not very risky....We are with Vanguard....I am waiting for the quarterly letter now to see how bad we have been hurt, but truthfully I doubt that it will be much....When you are this age you do not gamble...I gambled years ago and won and then got out of it and held tight...Sure I could have made a lot more for us but why be a pig...We are happy and comfortable but have invested for many years.....When you start saving when you are young, you do not notice it that much....

Check everything out....If your company is solid then I think you should trust them....I can't tell you who not to trust, but I can tell you to do your homework....I can say that individuals that are making money out of your investing your money to put INTO THEIR COMPANY are making a commission...With these companies you usually cannot recover your money for 7 years or so...Just check everything out good..

Much luck to you.....C