The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing


Subject:  ??? about annuities - Warning: long Date:  2/20/2011  11:12 PM
Author:  DorothyM Number:  68512 of 78674

Please have a look at this and perhaps suggest a short/quick response for me to my friend. I want only to give him a bit of good advice and then will separate myself from the matter. He's a big boy and can take care of himself. I have enough to do to take care of myself (and 2 cats) ;-)

I got an email from a friend (single, no children) this evening -- I don't know how much money he has but I know he inherited "some money" from a partner who died about 15 years ago (much older than my friend) and perhaps a bit from his mother. I suspect that he's taking money (as much as he needs) out of his stash (don't know if it can accurately be called "savings"). He did not have anything in IRAs (Roth or Traditional) and I'm not sure if he had money in a 401K. Lives in a co-op apt. w/ VERY reasonable maintenance. Mid-60s, laid off from support job with law firm, no pension. He might have enough that