Disabled, not eligible for SSDI, what now?

[Gatordoc50]

Interesting suggestions, thanks! An annuity certainly sounds attractive from the looks of it; will do some more research on Vanguard.

You can also create your own ten year annuity using a bond ladder of treasuries, CDs, and government agency bonds. It seems after a little research that the insurance companies are offering you a whopping .46 % annual interest above what you can do on your own. And you are getting AAA vs. Their AA. That's why you have them put their offer on the table and then do your homework. By the way, I'm educating myself here also, I'm not a stalker. Lol

 

[rescueme]

You can also create your own ten year annuity using a bond ladder of treasuries, CDs, and government agency bonds.

While I won't debate you on your suggestion (and yes, I do hold an SPIA), just be sure to include how you are going to get a return of your own investment (on a monthly basis) on your suggestion to also cover the additional reduction in investment capital over the alternative option you suggest.

An SPIA "pays" not only the return of your investment premium, but also the actual premium you paid, during the life of the defined policy, during the payout - either term or life.

Most folks that talk about "alternative investments" don't include how they are to recover their principal, during a payout, and they don't do the calculation assuming that you are withdrawing a portion of your original "investment" over the long term.

When looking at "investment ladders" (whatever alternative product your choose), this is a subject that is normally not discussed, and should be when you are comparing a product (such as an SPIA) to alternatives.

Just something to consider...

 

[Bestwifeever]

Here is a thread on how to build your own annuity: http://www.early-retirement.org/for...ity-indexed-annuity-eia-34656.html#post639818

 

[Gatordoc50]

While I won't debate you on your suggestion (and yes, I do hold an SPIA), just be sure to include how you are going to get a return of your own investment (on a monthly basis) on your suggestion to also cover the additional reduction in investment capital over the alternative option you suggest.

An SPIA "pays" not only the return of your investment preimum, but also the actual preimum you paid, during the life of the defined policy, during the payout - either term or life.

Most folks that talk about "alternative investments" don't include how they are to recover their principal, during a payout, and they don't do the calculation assuming that you are withdrawing a portion of your original "investment" over the long term.

When looking at "investment ladders" (whatever alternative product your choose), this is a subject that is normally not discussed, and should be when you are comparing a product (such as an SPIA) to alternatives.

Just something to consider...

Excellent point. I just did a quick and dirty using the fidelity website and their calculation of yield. Not a true apple to apple. Boy, I hate to tie up money at these rates.

 

[tryan]

I have had countless tenants over the last 20+ years who collected SSI/SSDI ... nearly all were employable as they were fluently bi-lingual. But they chose to stay home.

Rumor was there was great lawyer who could get "anybody" onto the dole.

Your chances are only as good as your legal team. Need to know what your lawyer's success rate is. Then shop the case to several others. My understanding is appeals are welcome.

 

[rct687]

Great. I'm referring to a single premium immediate annuity. Not a variable annuity. Vanguard is a great choice because they offer good funds, annuities, etc at a good price. But they are not a fiduciary. That is they have no responsibility to act in your best interests. You should be commended for accumulating 480 K by age 44. Especially after going thru the dot com bubble, 9/11, the real estate bubble, and the market crash of 2008. Now you are entering the arena of the people who caused most of those busts. The financial arena. Tread very carefully!

Certainly will tread carefully. My funds took a big hit in 2008, but it could have been worse due to a conservative allocation. From reading some of the other threads here, it looks like the real inflation rate may be around 5%(?) this has me worried.

 

[Mulligan]

If the dude that dresses and acts like a baby can get SSDI, how hard can it be to qualify?

Senator questions benefits to 'adult baby' - Washington Times

Thanks Ronnieboy for bringing this back. This was posted on the forum a month ago, and I had steam coming out my ears for 2 weeks over this. Now you got me going again. This big baby needs a good adolescent paddling behind the woodshed, and I am more than willing to provide the much needed service, that "mommy" obviously isn't capable of!

 

[rct687]

Thanks Ronnieboy for bringing this back. This was posted on the forum a month ago, and I had steam coming out my ears for 2 weeks over this. Now you got me going again. This big baby needs a good adolescent paddling behind the woodshed, and I am more than willing to provide the much needed service, that "mommy" obviously isn't capable of!

It sure looks like he won't have his SS taken away. Been following this story for a while....lol

 

[Mulligan]

It sure looks like he won't have his SS taken away. Been following this story for a while....lol

I could be wrong, but somehow I don't think when our politicians set up this safety net several generations ago they intended it to be used for 30 year old babies and lottery winners!