I'm considering a fixed index annuity from National Western Life to supplement our income in retirement. It is linked to the S&P 500 and has a guaranteed income rider. I know about the early withdrawal penalties and the limited growth potential.
I've been looking online and see many that say stay away from annuities. I'm thinking they mean variable annuities.
I'm looking for some advice on this and if you feel that this may not be right for me give me some other option(s). Please be constructive.
Information that may be helpful is that I'm 62, my wife is as well and I'm receiving a pension. I'm in excellent health and expect a long life.![Dance :dance: :dance:](https://www.early-retirement.org/forums/images/smilies/dance.gif)
Let me know if I've omitted any other pertinent information.
Thanks
I've been looking online and see many that say stay away from annuities. I'm thinking they mean variable annuities.
![Blush :blush: :blush:](https://www.early-retirement.org/forums/images/smilies/blush.gif)
I'm looking for some advice on this and if you feel that this may not be right for me give me some other option(s). Please be constructive.
Information that may be helpful is that I'm 62, my wife is as well and I'm receiving a pension. I'm in excellent health and expect a long life.
![Dance :dance: :dance:](https://www.early-retirement.org/forums/images/smilies/dance.gif)
Let me know if I've omitted any other pertinent information.
Thanks