My wife and I purchased an immediate annuity last year. It was indeed a big chunk of our savings, and it was a real heart-in-the-throat moment signing the contract. But now, "annuity day", when the deposit hits our bank account, is my favorite day of the month. Once we start receiving social security in a few years, the annuity plus SS will cover our basic needs. Having a guaranteed income for life is pretty sweet.
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My wife and I purchased an immediate annuity last year. It was indeed a big chunk of our savings, and it was a real heart-in-the-throat moment signing the contract. But now, "annuity day", when the deposit hits our bank account, is my favorite day of the month. Once we start receiving social security in a few years, the annuity plus SS will cover our basic needs. Having a guaranteed income for life is pretty sweet.
Post: Missing That Paycheck
Link to comment from April 26, 2024