Just answer my question please, do you believe it or not?
P.S. I waited about 20 minutes, no answer. Maybe I've been purged, or just got put on another ignore list. SPIA annuities are not really a horrible investment. If you are risk adverse they are likely comparable to the return you can get from CD's or bonds with no volatility. You have Insurance Company Risk (and possibly increased inflation risk) though, don't forget that. For those who care, the IRR for a SPIA is around 6% if you take it out at 53 and live to 86. Many of you would have a similar IRR if you think you will live to the mid to late 80's. It goes up, peaking over 7% if you live long enough. If you die at the table age of around 78 or 79, it drops to about 5.25%. Why don't we just all agree that is true (or actually do something to prove it is not) and move on instead of dredging this up over and over again.