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View Poll Results: Qs 1&2: Did you will you delay SS to 70; Qs3 &4-Did you/ will you buy annuity?
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yes
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19 |
24.05% |
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no
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10 |
12.66% |
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yes
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12 |
15.19% |
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no
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38 |
48.10% |
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Poll- Delay SS vs. Purchase an Annuity
12-05-2013, 01:37 PM
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#1
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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Poll- Delay SS vs. Purchase an Annuity
Couple of threads running on annuities made me want to do this poll. Basically, how many people plan to buy or have bought an annuity, vs how many plan to delay or have delayed SS until age 70? Me- I delayed until age 70, and I will not buy an annuity.
Try to force yourself to choose for purposes of this poll. If you find your self pursued by a large creditor, I you have permission to deviate from your choice.
Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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12-05-2013, 01:43 PM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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Your poll is a no-no for me. 
__________________
Numbers is hard
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12-05-2013, 01:47 PM
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#3
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2007
Location: New Orleans
Posts: 47,500
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I plan to take my SS at age 70 so I voted "yes" on that one.
I didn't vote on the annuity part. I don't plan to buy one now, but I plan to take another look at my financial situation when I am 80-85 and and possibly buy a small annuity at that time. The purpose would be simply to provide a steady, reliable income that doesn't need to be fiddled with while I am becoming more and more physically/mentally incapacitated by old age. The annuity would function as a supplement to my SS. If my SS was a little bigger, then I would not buy an annuity.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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12-05-2013, 01:59 PM
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#4
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Thinks s/he gets paid by the post
Join Date: Sep 2006
Posts: 2,844
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I plan on taking SS at age 70. The math makes it very hard not to do so.
I consider myself to already have taken an annuity by taking a pension option versus a cash payout. I presently do not plan on additional annuities, but I keep myself open to the oppportunity in lieu of other fixed income investments. I am still kicking myself for not purchasing the annuity in 2007 with a 4 percent payout and a 4% fixed annual increase. Would be paying over $5,061 per year by now for the 100K I was going to invest.
__________________
But then what do I really know?
https://www.early-retirement.org/forums/f44/why-i-believe-we-are-about-to-embark-on-a-historic-bull-market-run-101268.html
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12-05-2013, 02:18 PM
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#5
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,374
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Planning to wait until 70 for SS. Currently 58. Starting SS between 62 and 70 is a "Plan B" if investment results were uncomfortably poor.
No plans to buy an annuity. (I assume you mean a SPIA?) Might someday but probably not.
How does one vote twice?
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
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12-05-2013, 02:23 PM
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#6
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Moderator
Join Date: Feb 2010
Location: Flyover country
Posts: 25,358
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I can only select one of the four options.
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12-05-2013, 03:08 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Oct 2002
Location: Chattanooga
Posts: 3,895
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No & no here.
__________________
Earning money is an action, saving money is a behavior, growing money takes a well diversified portfolio and the discipline to ignore market swings.
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12-05-2013, 03:12 PM
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#8
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Thinks s/he gets paid by the post
Join Date: Feb 2008
Location: Indialantic FL
Posts: 1,330
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No-no here. My plan as it stands now is to delay taking ss as long as possible, maybe to age 70.
__________________
JimnJana
"The four most dangerous words in investing are 'This time it's different.'" - Sir John Templeton
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12-05-2013, 03:20 PM
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#9
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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 Quote:
Originally Posted by pb4uski
Planning to wait until 70 for SS. Currently 58. Starting SS between 62 and 70 is a "Plan B" if investment results were uncomfortably poor.
No plans to buy an annuity. (I assume you mean a SPIA?) Might someday but probably not.
How does one vote twice?
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Oh, I see. I didn't foresee this glitch. 
Could a mod turn on the multiple answers switch? I think this might fix the problem.
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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12-05-2013, 03:22 PM
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#10
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,374
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How about yes/yes, yes/no, no/yes and no/no? Too late now I suppose unless the mods have some way of wiping the slate clean. They are clever, smart, kind, generous, all-knowing......
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
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12-05-2013, 03:38 PM
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#11
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Sep 2005
Location: Northern IL
Posts: 26,895
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That's what it needs, IMO.
If you just allow multiple answers we won't know if the no's to one Q relate to the yes's or no's of the other question.
But until then - a planned yes/no. But I will re-evaluate as time goes by.
-ERD50
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12-05-2013, 03:50 PM
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#12
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Recycles dryer sheets
Join Date: May 2011
Posts: 325
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Planning on 70 for SS. 2500/Month now vs. 3300/month then.
Purchased a small annuity many years ago. Has increased in value and now valued at less than 4% of investments. Decided to go with 15 years guaranteed @ $1500/month.
Would not purchase another annuity.
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12-05-2013, 04:06 PM
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#13
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Full time employment: Posting here.
Join Date: Nov 2008
Location: Harrogate, UK
Posts: 921
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Don't have the money to wait until 70....or likely 66.5. At the current time, planning somewhere in the 62-64 range.
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12-05-2013, 04:15 PM
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#14
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gone traveling
Join Date: Apr 2009
Location: Eastern PA
Posts: 3,851
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Yes / Yes
Yes / Yes
(2 votes for me/DW  )...
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12-05-2013, 04:34 PM
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#15
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Thinks s/he gets paid by the post
Join Date: Mar 2012
Posts: 1,555
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No annuity and no delay. My SS be fits will be minimal, though, so it's really not a major influence.
__________________
"Growing old is no excuse for growing up."
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12-05-2013, 05:14 PM
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#16
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2005
Location: Chicago
Posts: 13,186
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No No
Started SS at 62 to protect DW. (She's impacted by GPO)
No annuity. Can't bring myself to turn over resources to any insurance company regulated by Illinois politicians. Fool me once........
__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
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12-05-2013, 09:39 PM
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#17
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Thinks s/he gets paid by the post
Join Date: Aug 2009
Posts: 1,578
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Yes on SS. Maybe on annuity. I would love to have a guaranteed income starting at 70 that would totally cover my "floor" so along with SS I may get a deferred annuity to start at 70. I'm 57 now and plan to retire at 60.
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12-05-2013, 11:13 PM
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#18
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Thinks s/he gets paid by the post
Join Date: Oct 2006
Posts: 4,629
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I've already delayed SS past 66, but I'll probably start at 67 1/3 when my wife turns 66.
A private annuity is my "bail out" plan. If I'm getting old and my assets are dropping too low, I may buy an annuity.
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12-06-2013, 02:54 AM
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#19
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gone traveling
Join Date: Nov 2013
Location: Los Angeles
Posts: 202
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Annuities are crap financial products. So easy to do better with a conservative portfolio of stock / bond based ETF's. There's so many commission hungry annuity salesmen out there saying good things about them that people start believing that they're "an important part of a portfolio". Nonfiduciary "advisers" typically earn between 5 and 10% when selling annuities. With index annuities and SPIA's the insurance company compensates for that commission by reducing what they pay you. All annuities are also a tax nightmare. With SPIA's and other annuities that have an "income phase" you cannot get out of the contract for life. Kiss your principal goodbye if you ever need it.
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12-06-2013, 06:01 AM
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#20
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Thinks s/he gets paid by the post
Join Date: May 2011
Location: South Eastern USA
Posts: 1,068
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no no
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All that is gold does not glitter. -J.R.R. Tolkien
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