I have been trying to figure out what to do for months. Was thinking of retiring Jan 1, but not going to happen as all the work I have been doing around my house has certainly added up & I need another car. I don't want any car payment so will be paying cash for a used car. I will be 63 by Jan 1 & plan to work another 6mos to save $ for a new a/c unit.
I have approx $120k in an annuity that terms in 4yrs where I get growth but can also lose if market drops more than 10% which certainly appears it will drop more when it does drop. I have 200k in just an IRA, mostly cash since I can't decide what's best to do. I do have a pension that will provide $400-450/more. My expenses are $3000/more.
Most all the financial advisors I talk to want to put $200k in an annuity, recent one is AtheneBKA x 10yrs. I am concerned about losing $$ when the market drops which is inevitable & sounds like it may be worse than the other drops.
Is there any other safe place besides an annuity where your $ can grow & not lose it all as I have not found anything.
Any suggestions will be appreciated! Ty
I have approx $120k in an annuity that terms in 4yrs where I get growth but can also lose if market drops more than 10% which certainly appears it will drop more when it does drop. I have 200k in just an IRA, mostly cash since I can't decide what's best to do. I do have a pension that will provide $400-450/more. My expenses are $3000/more.
Most all the financial advisors I talk to want to put $200k in an annuity, recent one is AtheneBKA x 10yrs. I am concerned about losing $$ when the market drops which is inevitable & sounds like it may be worse than the other drops.
Is there any other safe place besides an annuity where your $ can grow & not lose it all as I have not found anything.
Any suggestions will be appreciated! Ty