nun
Thinks s/he gets paid by the post
- Joined
- Feb 17, 2006
- Messages
- 4,872
I'm with mikeyd above. I just don't want to hand someone a big wad of cash that took years of hard labor to produce with the the caveat that I was going to be alive many years down the road and that the new owners of my cash will be around too (and still making payments).
I'll take my own chances with large sums of money,
I can certainly appreciate your opinion, the last 30 years of DC retirement savings and efficient market investing dogma have made the idea of the annuity rather passe. It's interesting, then, to see people like Wade Pfau considering them in place of bonds and also that the UK is just now moving away from them as the default for retirement income. Sometimes the winds of change blow in different directions in different places.