Coli Financial Gurus: Are Annuities A Good Retirement Option?

[⠝⠕⠏⠑]

Let’s say a retiree has $100000 for retirement. He also makes $1000 per month in social security.
Has a house note. But car and credit cards are all paid off. Is in good health with no major issues.

Could he invest in an annuity to get another guaranteed source of income?

What steps would you take?

 

[Pressure]

That really isn't enough to retire off of.

A lot of retired folks often invest in a high dividend portfolio.

 

[⠝⠕⠏⠑]

That really isn't enough to retire off of.

A lot of retired folks often invest in a high dividend portfolio.

Yeah hearing these retirement stories really made me aware of the stuff we should be doing now to retire. I feel like that could be gone in a heartbeat.

 

[Taadow]

An annuity is DA BOMB as a secondary source of income in retirement,
or if you got a assload of cash and patience.

Only problem is it is fixed, and the second you draw out dat mugg you can put anymore in and can’t change your amounts. So you can’t call J.G. WENWORTH - 877 CASH NOWWW if you really need a lump for something after dispersal starts.

 

[Deman]

Missing another 0 atleast

 

[⠝⠕⠏⠑]

Missing another 0 atleast

Somebody might think you are joking or being a dikk but this is legit serious shyt.

When you calculate the costs of retirement in this country it’s a very sobering process. A lotta people are gonna be working to death literally without the right planning.

 

[⠝⠕⠏⠑]

An annuity is DA BOMB as a secondary source of income in retirement,
or if you got a assload of cash and patience.

Only problem is it is fixed, and the second you draw out dat mugg you can put anymore in and can’t change your amounts. So you can’t call J.G. WENWORTH - 877 CASH NOWWW if you really need a lump for something after dispersal starts.

Gotcha! I always wondered about stuff like this.