ShokWaveRider
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I guess if one just wants to draw off interest, I agree with the last 2 posts. However, as we get older, I think we lean towards a more consistent income.
In our case we have no heirs, other than each other. I am 70 now and our stash will easily out last us by 5 or 10 fold.
I was always anti MoneyGrabbing-InsuranceCompanySponsored-Annuities . But now I am older, I am at least looking at options.
Here is some logic, well at least my logic anyway.
Take $200k a lifetime annuity with an AA+ company is Paying around $1200 a month for our joint lives. 5% interest pays $833 a month not taking any principal. If DW lives another 30 years, I think she would prefer a guaranteed income rather than worrying about investing every 5 years. I am looking into COLA riders too and need to evaluate the financial consequence of them.
In our case we have no heirs, other than each other. I am 70 now and our stash will easily out last us by 5 or 10 fold.
I was always anti MoneyGrabbing-InsuranceCompanySponsored-Annuities . But now I am older, I am at least looking at options.
Here is some logic, well at least my logic anyway.
Take $200k a lifetime annuity with an AA+ company is Paying around $1200 a month for our joint lives. 5% interest pays $833 a month not taking any principal. If DW lives another 30 years, I think she would prefer a guaranteed income rather than worrying about investing every 5 years. I am looking into COLA riders too and need to evaluate the financial consequence of them.