daylatedollarshort
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Feb 19, 2013
- Messages
- 9,358
Where do you get that quote for an immediate annuity. That's better than 5% and i dont think the annuity pays out that much for a 50 year old.
I was responding to a previous post in this thread. I did not fact check the $108K as my forum posting fact checker assistant is on vacation this week.
The full post was:
"I went to a popular annuity calculator on the web and a male at 62yo today could buy a 15k/year annuity for about 235k today. Since you have many years to go to get to 62 this amount should be discounted for net present value from your age now to age 62.
I am puzzling about the 2 mil plus group, why they didn't retire sooner?? I guess they have a high expense life style or something. Since I am in the "frugal" category 2 mill plus seems gigantic.
A 50yo male with 2 million could buy an immediate annuity and get $108,720 a year until they die. Who needs 108k/year for a retirement."
Added -
I did just check it using immediateannuities.com and the $108K annual amount is valid according to that site.
Last edited: