Post #664 by rayvt on the Retirement Investing board

Personal Finance Topics / Retirement Investing

Unthreaded | Threaded | Whole Thread (7)

Post New | Post Reply | Report Post | Recommend It!

No. of Recommendations: 7

Why even bother with an annuity at 80 or 85 or so?

As my wife once said, "Wait, if we had $1 million dollars we could just put it into a savings account and withdraw $50,000 a year and it would last 20 years?"

Yup.

Except that ignores interest. If the savings account paid after-tax 3% interest that $1M would last 29.5 years.

Your chances of living to age 100 or 105 is infinitesimal.

So self-annuitize.

Post New | Post Reply | Report Post | Recommend It!

Print the post

Unthreaded | Threaded | Whole Thread (7)

Prev | Next

Announcements

Retirement Investing FAQ

Contact Shrewd'm
Contact the developer of these message boards.

A community forum supporting civilized, and highly helpful, self-educating investors that come together for Shrewdness and merry spirits. These message boards closely follow the look and feel of the old message boards at boards.fool.com prior to the boards redirected to discussion.fool.com. Shrewd'm is not affiliated with the comprehensive and excellent investment website, The Motley Fool (TMF), in any way. The Shrewd commmunity here has owed, and continues to owe, gratitude to The Motley Fool for nurturing a culture of jovial irreverence towards Wall St, and that tradition will continue here.