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Please help me out.
The question is: What internal rate of return on invested money is Vanguard SPIA allowing to calculate the payouts on their annuities?
I contend that if I buy an SPIA from Vanguard or invest in a mutual Fund that pays 6% annualized and take the same withdrawals each year from each investment, my annuity will be worth $0 when I die at age 86 and my Mutual Fund balance would also be $0. The investment outcome is the same.
Is that correct?
If anyone would like to help but needs the actual numbers to check it out, I will get the payout numbers from Vanguard.
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