Quote:
Originally Posted by Bobnfl
Our adviser is suggesting a Guaranteed Annuity for some extra monthly income. Please inform me of the pros and cons. $265k for a $1675 monthly income for life. Break even is at 13yrs. Is it worth it. It is with a AA+ rated company. There are no fees but once invested there is no refund or backing out. You have it for life. We are now 70yo. 3 years from RMD. Help us make a decision
Thanks for any help you can give.
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I would not do it. If the Company goes under you get nothing. I have always been my own advisor. With today's interest rates get a CD you will make more in the long run and if you die your heirs get nothing with this deal. I am happily surprise at how much I am making these days with simple compounding interest.