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Originally Posted by dewilson58
Here vs. up North...................Here: high concentration of old people looking for guaranteed payments during their final years.
That "guarantee" comes at a high price..................Low rate of return & High fees & lack of flexibility.
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hmmm, interesting opinion. First- Since you use the "4% rule" to pull from a portfolio, and most Annuities pay out in the high 5s or low 6% range depending when you turn them on, not sure what you are talking about. Second, who cares about "fees", it is the money you get every month. Last, you don't put everything in an Annuity, just a portion of your portfolio to have steady income.
On top of that, the rate of return on my stocks and bonds in the past 2 years is negative, my annuities with gauranteed income riders went up.