Useful Links

haha · 03-09-2008, 06:06 PM

Quote:

Originally Posted by twaddle

You guys have been around for how many years now? And you still can't translate UM-speak?

The "Swede" refers to that Ben guy (whom I thought was a Dane).

To a Finn like UncleM, Denmark is just SW Sweden.

Ha

samclem · 03-09-2008, 06:12 PM

Quote:

Originally Posted by AdventuresAddict

I'd like to add that with the biomedical field's rate of progression, we can only expect to live longer. So, any swr for 30 years or even 40 years are no guarantee of a secure stream of retirement income, especially for ER. For example, I plan to ER at 35, in 5 years. A 30-year stream of income can only last me till age 65, and a 40-year one, age 75. This is not even going to cover the current expected lifespan of people in developed countries such as US and Singapore. But it's different in the case of an annuity. It's a contractual obligation that an insurer must deliver the income, even if I live to 100 or more. And, looking at the present research, there is a high chance we will have the technology to extend our life beyond 100, in the next few decades.

Wow, those insurance companies must be brilliant:
a) They have apparently already priced into their contracts the assumption that many people will live to be 100 years old. I didn't think of that! That finally explains why annuities cost as much as they do.

Quote:

Originally Posted by AdventuresAddict

Already, better-educated people are able to extend their lifespan by improving their calories intake, antioxidants intake, health screening and illness preventions, and air and water quality.

b) So, "better educated" people will live longer, thereby costing the annuity issuers more money. In this case, it would seem logical that the annuity sellers would concentrate on selling more policies to less educated people.

And, that's where I'll leave that.

Dawg52 · 03-09-2008, 06:13 PM

Quote:

Originally Posted by unclemick

So when is someone going to mention the creative use of annuities to ward off lawyers, creditors, and other various and sundry bloodsuckers encountered in America?

Yes, what about this? If you are sued for some unfortunate event, are immediate annuities exempt from the calculation of your net worth and potential payout from a lawsuit? OJ comes to mind. I don't think his NFL pension can be touched.

Not a good reason for having an annuity as a simple umbrella policy is a better way to go, if you have enough coverage. If I were going to make an argument for annuities, I would say it might be a good way to help put things on auto-pilot. As we get older, that will probably be more appealing. But Unclemick's approach is probably the way I will go. Convert to a target fund and let the fund do it's thing as it spits off dividends.

haha · 03-09-2008, 06:27 PM

Quote:

Originally Posted by Dawg52

Yes, what about this? If you are sued for some unfortunate event, are immediate annuities exempt from the calculation of your net worth and potential payout from a lawsuit? OJ comes to mind. I don't think his NFL pension can be touched.

It undoubtedly varies by state, but I have a good friend now retired from legal-beagling who set up many of his defendant clients with immediate annuities to shield those assets.

Ha

REWahoo · 03-09-2008, 06:39 PM

Quote:

Originally Posted by twaddle

The "Swede" refers to that Ben guy (whom I thought was a Dane).

I would have sworn there was a Norwegian in there somewhere...

twaddle · 03-09-2008, 07:14 PM

Quote:

Originally Posted by REWahoo

I would have sworn there was a Norwegian in there somewhere...

Pffft. She's about dividends! The Swede is about globally diversified yield. OJ is about annuities. And to get past the snake, you throw the bird and say "xyzzy!" Oh, wait. That's a different game.

FIREd · 03-09-2008, 07:30 PM

Quote:

Originally Posted by Dawg52

Yes, what about this? If you are sued for some unfortunate event, are immediate annuities exempt from the calculation of your net worth and potential payout from a lawsuit? OJ comes to mind. I don't think his NFL pension can be touched.

In my homestate, it is my understanding that annuity payouts over $250 a month are fair game for creditor collection.

haha · 03-09-2008, 07:56 PM

Quote:

Originally Posted by twaddle

Pffft. She's about dividends! The Swede is about globally diversified yield. OJ is about annuities. And to get past the snake, you throw the bird and say "xyzzy!" Oh, wait. That's a different game.

LOL

A FAQ on Mick-Speak!

Ha

FinanceDude · 03-09-2008, 08:22 PM

This thread is like rubbernecking at a fatal accident...........I just can't help myself..............

unclemick · 03-09-2008, 08:23 PM

Quote:

Originally Posted by haha

LOL

An FAQ on Mick-Speak!

Ha

Nah. Everybody's doing fine translation wise. Have confidence in yourselves.

Oh - and no Missoula jokes. Please?

heh heh heh -

.

cute fuzzy bunny · 03-09-2008, 08:24 PM

I'm pretty well educated and I just cant kick the dang bacon.

When the insurance companies stop erecting those humongous buildings full of expensive furniture and electronics, I'll start thinking I might talk to one of them.

unclemick · 03-09-2008, 08:48 PM

If Nords runs across Ben on another forum and he gets upset over Swede/Dane - just tell I am same guy who interchanged De Gaul/Bismark:

'God Looks After Drunkards, Fools and The United States of America.'

These things happen - plus I gave my 251,000 mile rusty pickup to the son of the woman who gave it to me at 180,000 miles - who is a foreman on the meat packing line that makes!!! - the raw meat cuts that become Oscar Meyer Center Cut Bacon or so he says.

heh heh heh - Bacon, annuities, dividends - we are doing good.

.

cute fuzzy bunny · 03-09-2008, 09:06 PM

I'm guessing a drunken fool from the USA is in good hands...and I own some Wellesley just to be sure!

Mmmm...sounds like bacon wrapped filet mignons for dinner. Maybe some roasted fingerling taters and a little asparagus with some bearnaise sauce appearing somewhere on the plate Dang daylight savings time is screwing up my dinner time...

CyclingInvestor · 03-09-2008, 09:42 PM

Quote:

Originally Posted by FIREdreamer

In my homestate, it is my understanding that annuity payouts over $250 a month are fair game for creditor collection.

In case anyone cares, here is a decent article on annuity creditor protection. A
state by state table is at the bottom.

Creditor Protection for Life Insurance and Annuities

haha · 03-09-2008, 10:16 PM

Quote:

Originally Posted by cute fuzzy bunny

Mmmm...sounds like bacon wrapped filet mignons for dinner. Maybe some roasted fingerling taters and a little asparagus with some bearnaise sauce appearing somewhere on the plate Dang daylight savings time is screwing up my dinner time...

Those who live well live long. So maybe that bacon is watching over you.

Ha