MikeTN
Recycles dryer sheets
Married, Age 68, working same job for past 35 years but now only half-time. Financially, I'm ready to retire, but I am fortunate to have a low-stress job I enjoy, a boss and co-workers I like, lots of vacation time. On the negative side, my DW has health problems and can't travel much, or take the stress of moving. My job gets me out of the house but also leaves me time to help DW and hike with my dog here in the hills of East Tennessee. I'm not preaching, but for me continuing to work half-time makes sense. I used some of the earnings to buy a fun car last week, a Porsche Boxster. I know that four cars is too many, and I plan to sell my '38 Ford coupe.
I have been visiting this forum for years as I find that it has members who are well informed and produce good debates and suggestions.
I've noticed that most are down on annuities. I'm not. I have access to low cost TIAA-CREF retirement annuities, and I think it makes sense for me to annuitize, say 25 to 40 percent of my assets.
I think that annuities aren't necessary if your assets are great, e.g., more than 25 times the income you want/need from those assets, but most Americans are not that well off when beginning retirement and thus should seriously consider purchasing annuities to supplement their government annuity (Social Security) as this will reduce the risk of running out of money if they live into their 90s.
I have been visiting this forum for years as I find that it has members who are well informed and produce good debates and suggestions.
I've noticed that most are down on annuities. I'm not. I have access to low cost TIAA-CREF retirement annuities, and I think it makes sense for me to annuitize, say 25 to 40 percent of my assets.
I think that annuities aren't necessary if your assets are great, e.g., more than 25 times the income you want/need from those assets, but most Americans are not that well off when beginning retirement and thus should seriously consider purchasing annuities to supplement their government annuity (Social Security) as this will reduce the risk of running out of money if they live into their 90s.