rodiy2k
Recycles dryer sheets
Hi all
My wife and I are planning to use house proceeds to purchase an immediate annuity which will serve as most of our income during the initial years of ER and then supplement with pensions and Roths as they become available. I've used immediateannuity.com as a good reference but can't really get a handle on how they might change when interest rates rise or specific terms because agents don't really want to speak to you unless you have cash right now (no incentive for them I guess)
We are thinking of a term of 10 or 15 years with survivor benefits (lifetime will not generate enough income and we will have ample pension/401k cash anyway). Is there anyone out there that has used this as a strategy? I'm looking to see if terms are flexible since 12 years would work better than 10 or 15. Also thinking of using HSBC as we will be living overseas and isn't an HSBC Premier account so it seems easier to keep all funds in one place. But I'm willing to go with other reputable companies like NY Life.
Also looking to confirm how taxation of interest works to firm up financial plans. Also would it be required to maintain a physical US address for payments to start or only a US bank account? Money laundering rules make expatriating kind of confusing and daunting
Thanks for any comments suggestions or advice
My wife and I are planning to use house proceeds to purchase an immediate annuity which will serve as most of our income during the initial years of ER and then supplement with pensions and Roths as they become available. I've used immediateannuity.com as a good reference but can't really get a handle on how they might change when interest rates rise or specific terms because agents don't really want to speak to you unless you have cash right now (no incentive for them I guess)
We are thinking of a term of 10 or 15 years with survivor benefits (lifetime will not generate enough income and we will have ample pension/401k cash anyway). Is there anyone out there that has used this as a strategy? I'm looking to see if terms are flexible since 12 years would work better than 10 or 15. Also thinking of using HSBC as we will be living overseas and isn't an HSBC Premier account so it seems easier to keep all funds in one place. But I'm willing to go with other reputable companies like NY Life.
Also looking to confirm how taxation of interest works to firm up financial plans. Also would it be required to maintain a physical US address for payments to start or only a US bank account? Money laundering rules make expatriating kind of confusing and daunting
Thanks for any comments suggestions or advice