Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
FYI: Sixty-nine year old Janet Smith feels like a swimmer who just escaped a riptide. Relieved, she told me, “I finally sold my house. Buying that house was one of the biggest mistakes I ever made.” I’ve changed Janet’s name to protect her identity. But plenty of people can relate to her story–and her new dilemma. Regards, Ted https://assetbuilder.com/knowledge-center/articles/should-a-lifetime-annuity-fuel-your-retirement
How does someone who makes under $800/ month on SS even qualify for a $900K mortgage?
Then we're told that making a profit of $220k on the sale of a home is "the biggest mistake" this women has ever made...crocodile tears. This women's story provides little comfort to those millions of "home-loaners" who actually went bankrupt verses this women's real estate success story.
Finally, she (or the author) is so financially illiterate to consider putting her entire net worth into an annuity product that provide no protection against inflation not to mention the one-time expenses that besiege a retiree as we age (mainly healthcare related) and agency risk with the annuity insurer.
The article should be a wake up call to many pre-retirees who often do not have the enough present income to pay basic living expenses, nor a $500K nest egg.
Sadly, his broad needs to get a good paying job... something she should have learned in her twenties.
I’ve looked at annuities in the past and the pay-out looked so bleak compared to what one can reasonably expect to make in the markets than I ran away. That was at substantially lower Fed/10-year rates than today. Does anyone know if annuities now offer better payouts than a couple years ago or - better yet - whether their attractiveness will continue to improve now that interest rates are finally rising?
Comments
How does someone who makes under $800/ month on SS even qualify for a $900K mortgage?
Then we're told that making a profit of $220k on the sale of a home is "the biggest mistake" this women has ever made...crocodile tears. This women's story provides little comfort to those millions of "home-loaners" who actually went bankrupt verses this women's real estate success story.
Finally, she (or the author) is so financially illiterate to consider putting her entire net worth into an annuity product that provide no protection against inflation not to mention the one-time expenses that besiege a retiree as we age (mainly healthcare related) and agency risk with the annuity insurer.
The article should be a wake up call to many pre-retirees who often do not have the enough present income to pay basic living expenses, nor a $500K nest egg.
Sadly, his broad needs to get a good paying job... something she should have learned in her twenties.