I am 55, retired, on small fixed income.Have no one to leave any money to, so to be precise not an issue. I have $200K for the rest of my life funds. I would like a fixed income, with wealth preservation, LOW risk. OR...Would insurance annuity be a good move?
Answers:
If you are sure you have not a soul to leave the money to, then an annuity is OK. Other knowledgeable it is the worst possible option, bar none.
But if I be you, I would put it in a CD. The interest rate will be a moment or two less, but you can leave the means to a charity for children etc where it will do good for ever, a bit than enriching the fat cats of the insurance co.
In my opinion, the with the sole purpose people who benefit from an annuity is the salesman and the insurance company. There are better investments to put your money in. Even if your money go into a CD, it will probably perform as resourcefully as the annuity, without all the obligation.
NO Source(s): http://www.SimpleTermInsurance.com
No.
I know a company currently offering $45,000.00 USD annually for the rest of your life adjusted for inflation.
Related Questions:
Answers:
If you are sure you have not a soul to leave the money to, then an annuity is OK. Other knowledgeable it is the worst possible option, bar none.
But if I be you, I would put it in a CD. The interest rate will be a moment or two less, but you can leave the means to a charity for children etc where it will do good for ever, a bit than enriching the fat cats of the insurance co.
In my opinion, the with the sole purpose people who benefit from an annuity is the salesman and the insurance company. There are better investments to put your money in. Even if your money go into a CD, it will probably perform as resourcefully as the annuity, without all the obligation.
NO Source(s): http://www.SimpleTermInsurance.com
No.
I know a company currently offering $45,000.00 USD annually for the rest of your life adjusted for inflation.
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