Annuities # 6
March 20, 2019
I’m Miriam Neff-with STARTING OVER FINANCIALLY, and I’m Valerie Neff Hogan, and we’re here to talk about money
M We love to help you learn. Given our uncertainties financially, some folks near retirement consider buying an annuity. Purchasing insurance that guarantees an annual income.
V Lets look at the numbers. Today, for example, $100,000 would get a 65-year-old man about $525 a month in lifetime income, while that amount would generate roughly $490 a month for a 65-year-old woman. Women live longer. You give up all access to that $100,000. Its never a good idea to give up all or even most to annuities. Emergencies happen. Remember, it is no longer yours.
M Thinking it through is a great time to consider your values, life style priorities what matters. Those later, maybe leaner years are more than a guaranteed pay check.