Talk of The Villages Florida - View Single Post - Annuity or Lump sum payout?
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Old 08-30-2019, 07:08 PM
DAVES DAVES is offline
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Default Re: Guaranteed income

Quote:
Originally Posted by gatorbill1 View Post
If you can budget what you withdraw from account, Lump sum is best, then you can invest as you want to, I like mutual funds. If sticking to budget is a problem, an annuity gives you a guaranteed income, but takes a big bite of disbursement with the commission taken by person who sells the annuity.
You do not need to go with an annuity to get a check every, whatever you choose. If you have an account with any of the brokerage places, such as Fidelity, or T. Rowe, all you need do is fill out a form and they will send you a check every xxxxxxx till you run out of money.

Actually that required minimum withdrawal from an IRA is the same as above. The calculation is based on you living to 100.
Whatever you've saved into your IRA will be zero IF, you live to 100.

Budget? As my mother used to say, man plans and god laughs.

All you need to know is when you will die, the rate of inflation till you die, the taxes that will be take from you till you die, and the return on your investments till you die, oh and what will kill you some diseases are far more expensive to die form than others.
Few people can know the answers and fewer still can honestly face the answers.