I will turn 62 next week. I haven't worked in over three years, so I guess I am retired, although I hope to find part-time work eventually. I have a 401K, a house with equity, a small savings, and of course my SS benefits if I decide to take it early. I was reading about Prudentials Income Bridge Approach. Has anyone done this. I'm trying to decide if I should take SS now and suppliment with my 401K, or if I should purchase an annuity. Any other suggestions?
62 next week
- Thread starter johnbb
- Start date
Johnbb -
I've not seen anything here on this special immediate annuity.
I read about the Pru Income Bridge over in M*s "Investing During Retirement" forum - Near as I can tell, this annuity is a short term way to increase your income by putting off signing up for SS until you are 70 - seems like the approach is like moving money from one pocket to another and giving a bunch to Prudential at the same time.
Many of us here steer clear of insurance annuities. I think that it can be easily replicated with a simple CD ladder if you really want to do this type of thing.
Congratulations on turning 62... and on your first post here.
JohnP
I've not seen anything here on this special immediate annuity.
I read about the Pru Income Bridge over in M*s "Investing During Retirement" forum - Near as I can tell, this annuity is a short term way to increase your income by putting off signing up for SS until you are 70 - seems like the approach is like moving money from one pocket to another and giving a bunch to Prudential at the same time.
Many of us here steer clear of insurance annuities. I think that it can be easily replicated with a simple CD ladder if you really want to do this type of thing.
Congratulations on turning 62... and on your first post here.
JohnP
REWahoo
Give me a museum and I'll fill it. (Picasso) Give
Hello Johnbb, and welcome to the forum.
The subject of when to take SS and the evils/virtues of annuities is a much debated topic on this board. Here are a couple of examples:
http://early-retirement.org/forums/index.php?topic=7626.0
http://early-retirement.org/forums/index.php?topic=4943.0
I think you will find some strong opinions on both sides of the issue. Good luck in your decision.
The subject of when to take SS and the evils/virtues of annuities is a much debated topic on this board. Here are a couple of examples:
http://early-retirement.org/forums/index.php?topic=7626.0
http://early-retirement.org/forums/index.php?topic=4943.0
I think you will find some strong opinions on both sides of the issue. Good luck in your decision.
