An income annuity is a bad idea. Using the Schwab calculator, you receive $23,000 a year for 15 years for the 300k annuity. That is a return of less than 1% per year. A ‘lifetime’ annuity has even lower guaranteed payouts. You would do better buying a 10 year Treasury bond. All an income annuity does is return to you the money that you have invested.
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An income annuity is a bad idea. Using the Schwab calculator, you receive $23,000 a year for 15 years for the 300k annuity. That is a return of less than 1% per year. A ‘lifetime’ annuity has even lower guaranteed payouts. You would do better buying a 10 year Treasury bond. All an income annuity does is return to you the money that you have invested.
Post: Work in Progress
Link to comment from May 24, 2021