Will soon retire (next year sometime) at about age 57.5.
Can buy a Vanguard immediate annuity. An example:
for about a 57000 dollar premium, I can get $300/month
fixed joint and 50% survivor. Or, to get $300/mo. with a 1% yearly payout increase, the cost would be $63000.
This, of course, represents a modest investment on my part in relation to my total assets. The premium would be paid out of my 401k (pre-tax). What does everyone think of this idea ? Vanguard's opinion is to wait until I'm about 68 yrs old. I was thinking that this is a way to further diversify and gain 'guaranteed' income. The rate of return on the $57000 is 6.3% and the initial first year rate on $63000 is 5.7%.
Can buy a Vanguard immediate annuity. An example:
for about a 57000 dollar premium, I can get $300/month
fixed joint and 50% survivor. Or, to get $300/mo. with a 1% yearly payout increase, the cost would be $63000.
This, of course, represents a modest investment on my part in relation to my total assets. The premium would be paid out of my 401k (pre-tax). What does everyone think of this idea ? Vanguard's opinion is to wait until I'm about 68 yrs old. I was thinking that this is a way to further diversify and gain 'guaranteed' income. The rate of return on the $57000 is 6.3% and the initial first year rate on $63000 is 5.7%.