Us too, also 20 years ago, but with somewhat more than $1m. To add to your post, we have not invested in the market for over 30 years and still manage OK with MYGAs and CDs. Go figure. In addition, our stash has been increasing steadily since we started receiving SS and pensions.
Exactly. I think what you have said instead is that historically your investments have grown at a rate that at least matched inflation. If you had a mill then and still have a mill now, that mill is worth less than it was 20 years ago. In the US that mill is now worth a little more than $600k in terms of buying power then and now.
In your case, it is true because I suspect your withdrawal rate would have been lower or same as real rate of return. OP wants to spend same/more than nominal rate of return every year, big difference IMHO.
MYGAs come with redemption schedules and likely can be redeemed in full with penalties.
MYGAs are nice as if you choose the right one you can get up to 10% a year out penalty free. I like to create my own 5y SPIAs (We currently have 4). The insurance company will simply put the money into your account monthly if you set it up. It pays about the same as a Regular SPIA, and at the end of the period you still have a significant portion if not all your initial premium.
This is an interesting idea, but could you explain in a bit more detail. For example, are you collecting from all four MYGA's at once or are they laddered, 2 yr, 3 yr, 4 yr, etc?
