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Originally Posted by Mazjaz
My wife just retired and won’t take Social Security for 5 years. I am considering replacing her income with a Fixed Indexed Annuity with West Financial Group. Has anyone used them or have a fixed indexed annuity they would recommend for immediate income? I am 66.
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It depends on you financial needs, goals and comfort. If you need an income stream now, an annuity can fill the need. If you don't need the money right now, there are better investments, all of which have been mentioned previously. An S&P 500 ETF can be expected to deliver about 8% over the long haul, and is "fairly" safe. If you have time, such an ETF or other investment will probably net you more. However, if you feel the stock market is shaky or your risk tolerance is very low, once again, an annuity could be a good investment for you.