Does Social Security cover your expenses? I am considering a SPIA when I hit 75 to 80 in an amount sufficient to cover my expenses. The primary reason is because my mother's dementia gives her the mental acuity of a 5-year-old. I want secure income when I may no longer be able to make good decisions. The SPIA would probably replace my bond allocation. Then, I could be very aggressive with the balance of my portfolio for heirs.
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Does Social Security cover your expenses? I am considering a SPIA when I hit 75 to 80 in an amount sufficient to cover my expenses. The primary reason is because my mother's dementia gives her the mental acuity of a 5-year-old. I want secure income when I may no longer be able to make good decisions. The SPIA would probably replace my bond allocation. Then, I could be very aggressive with the balance of my portfolio for heirs.
Post: RDQ Sorry folks, I still see annuities, including deferred annuities, as a viable option for creating steady retirement income.
Link to comment from April 26, 2025