Lifetime Annuity
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I'm not really close to it yet - but when I'm 75 and my wife is 70 I am strongly considering a Single Premium Lifetime Annuity covering both of us with no other riders
a female who has reached age 70 has a life expectancy of 87.6 years
I've crunched the numbers and if that is what happens the total payout of the Annuity will be about 29% greater that what it was purchased for
certainly a person could do better than that but if one of us lives to age 95 - especially my wife - it looks like it could be a good deal - taking some of the worry out of things
if that were to happen the total payout would be about 33% more than what was put in
of course, if you draw down from a cash account - even if it's earning interest - after every yearly drawdown - assuming no change in the interest rate - your next year's earning will be less
of course, it could lessen the estate if a person is planning on providing for others but that is not a concern for us
and it would most likely earn less than many other investments but it provides for security
and if we didn't get a good deal because both of us are dead after just 10 years - we don't really care - because we're both dead
would like to hear comments - thanks
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believe only half of what you see.....and nothing that you hear..................Edgar Allan Poe
Last edited by Half Smoke; 06-19-2023 at 05:59 AM.
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