Quote:
Originally Posted by dewilson58
Not sure who told you a 13 year breakeven.
Simple Example:
You could ladder out CD's and get over 5%.
If you are getting 5% on your $265k and you take out $1675 per month......you will have over $75,000 left after 13 years.
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13 years looks to be simple division: 265,000/(12*1,675)=13 years, 2 months
5% interest is available today but it was not last year. Is your crystal ball good enough to be sure it will be available next year?
Even if 5% is sustained it only turns 13 years into about 17 years.
What if the OP celebrates his 90th birthday? With the fixed annuity he will see a check for $1,675; with 5% sustained he will be out of luck.
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Why do people insist on making claims without looking them up first, do they really think no one will check? Proof by emphatic assertion rarely works.
Confirmation bias is real; I can find any number of articles that say so.
Victor, NY - Randallstown, MD - Yakima, WA - Stevensville, MD - Village of Hillsborough
Last edited by Bill14564; 10-31-2023 at 03:23 PM.
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