Gill
Recycles dryer sheets
Thanks for straightening me out. I'm an attorney, CPA, and former trust company executive but I must have overlooked that. I intentionally used the word "return" to indicate cash flow, not yield.I think you may be confusing a 10% payout rate with a 10% return (IRR).
I would not doubt that a 76 year old could get a 10% payout rate, but that is not a 10% return because a good portion of each annuity payment you receive is a return OF your premium and not a return ON your premium.
Bruce