MrBojangles
Recycles dryer sheets
From the internet, an annuity of $192,000 should create an income of $1000 a month.
So, is it how annuities work, I write a check for $192,000, I’m guaranteed $1000 for life? If I only live 6 months, the company keeps the $192,000. If I live for 40 yrs, the company pays me out $480,000.
But, $12000 on 192k is 6.25%. The market historically does better than that, on average.
So is an annuity just for those who find the risk of a severe downturn that significant such that they would rather just fork over 192k to get that $1000 a month guaranteed?
So, is it how annuities work, I write a check for $192,000, I’m guaranteed $1000 for life? If I only live 6 months, the company keeps the $192,000. If I live for 40 yrs, the company pays me out $480,000.
But, $12000 on 192k is 6.25%. The market historically does better than that, on average.
So is an annuity just for those who find the risk of a severe downturn that significant such that they would rather just fork over 192k to get that $1000 a month guaranteed?